WESTWOOD (CBSLA.com) — Slow but steady job growth in California and across the United States will likely improve the Southland job market within two years, according to an economic forecast released Wednesday.
However, director Edward Leamer told KNX 1070′s Ron Kilgore businesses aren’t being encouraged to invest in the Golden State.
“We have a terrible regulatory environment, which encourages businesses to move elsewhere,” Leamer said. “We need to make some progress on that.”
The UCLA Anderson Forecast left its expectations of the state’s economic performance for 2013 and 2014 largely unchanged from its December report, with total employment growth projected to reach 2.3 percent by 2015.
Senior Economist Jerry Nickelsburg also forecast real personal income growth to inch upward by 1.4 percent in 2013 as investment in the U.S. improves, followed by 3.6 percent in 2014 and 3.3 percent in 2015.
Unemployment is also expected to fall through 2013 and will average about 9.6 percent this year before a project dip to 7.2 percent in 2015.
Click here to read the entire report from the UCLA Anderson School of Business.