Thursday, August 6, 2009

Another gloomy job forecast for the Great California Slump

We Californians can expect that the state will have lost a significant number jobs during the period of July-September 2009, according to the latest analysis of Chapman University's Anderson Center for Economic Research. According to the Orange, California, university's press release issued today:

The third quarter’s California Index of Leading Employment Indicator is virtually unchanged from the second quarter reading of 73.4. This suggests that the pace of job losses in the third quarter should remain at about the same rate as the second quarter. This marks the fifth consecutive quarter that the index remained below 100 and an index value below 100 signals negative payroll job growth. The primary factors causing the index to hit a low reading of 72.1 are a sharp drop in California’s residential and nonresidential construction spending and continued decline in real GDP and export growth.

This forecast can be put in the pile of gloomy job loss forecasts including the UOP long term forecast reported below.

No comments: