As we approach year’s end, the news about the California economy is less gloomy than it was a year ago. A look at some recent reporting shows a mixed bag, but with the trends in the right direction.
CNBC reported that our state’s economy is definitely turning around. The story quotes California State Treasurer Bill Lockyer as saying that “half of the new jobs created in the United States in the last year were create in California.” That’s the kind of good news we haven’t been hearing.
The state’s unemployment rate has dropped below 10 percent, although that news was tempered by reports that oil giant Chevron, a company literally born in this state in 1879, is moving 800 corporate jobs to Texas. Most of the jobs are in the information and advanced technology areas.
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