National Employment Growing; Unemployment Rate Dropping; Defense Spending on the Rise

In the California forecast for September 2014, UCLA Anderson Senior Economist Jerry Nickelsburg writes, “The California economy is moving forward in an expansion from the depths of the Great Recession. But, even though the number of jobs is now higher than any time in the past, the state remains below its potential in output and employment. That we are entering the sixth year of expansion illustrates just how painfully plodding this recovery process has been.”