California jobs will grow at a healthy rate this year, but at a slower pace over the next two years, according to a new forecast by UCLA’s Anderson School of Management.
Jerry Nickelsburg, senior economist at UCLA Anderson Forecast, estimated that state employment will rise by 2.7 percent this year, slowing to 2.2 percent in 2016 and 1.4 percent in 2007.
The state’s unemployment rate, now at 6.1 percent, will fall to about 4.8 percent over the next two years, similar to the nation as a whole, according to the forecast.
Nickelsburg predicted that home prices in California will become less affordable over the next two years, as new building fails to meet the demand.
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