ECONOMY: Forecast sees deeper state recession : North County Times - Californian UCLA Anderson sees 'no bright spots' in state; suburbs especially dark Several local city governments have already started cutting. San Marcos has stopped filling open positions. Temecula laid off at least 20 part-time workers last week. The economic output of the nation as a whole will probably shrink by about 2 percent by September 2009, the largest contraction since 1982, according to UCLA economists. Comparable data and forecasts don't exist at the state level, but California's expected unemployment rate of 8.7 percent next year would put it in slightly worse shape than the nation as a whole, whose unemployment is expected to top out at 8.5 percent.
Key report sees 9% jobless rate, housing bottom in state in 2009 | The San Diego Union-Tribune Think Chapman is trying to ride on UCLSA's Anderson just a little? From your article Damn, I wished they were right the first time.
I think both reports are on the light side of where the unemployment will cap off for us here. I hope I am wrong, but I have a feeling it will cap off at about 10% here with all that I am seeing and hearing.
