UCLA: Business Climate Not To Blame For Calif. Job Woes
LOS ANGELES (AP) — An economic forecast says those who blame California’s high unemployment rate on its high taxes and onerous regulations aren’t entirely correct.
The quarterly Anderson Forecast released Wednesday by the University of California, Los Angeles says there’s little evidence that businesses are moving to states such as Texas because of more favorable business climates.
It recommends support for universities and researchers as one way of giving a long-term boost to the unemployment rate, which stood at 12.4 percent in January. The national rate was 8.9 percent.
The forecast sees the economy improving slowly throughout the year, but not producing enough jobs to drop the unemployment rate to single digits until early 2013.
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