A statewide drought has drained $2.7 billion from California’s economy, University of California researchers announced Tuesday.
One UCLA economist warned “dismal” job growth data could see Southern California go the way of “Victorian England.”
Poverty, weak job creation and other issues currently plaguing Los Angeles could leave the city “sinking into the future,” according to a report released Wednesday.
The city of Los Angeles could receive as much as $500 million in grant money over the next decade under a federal program to fight poverty and improve quality of life, according to reports.
One in four children and more than three million Southern California residents live in poverty, according to government data.
A marked slowdown in the economies in China and throughout the European Union could negate any traction in statewide job growth, according to a UCLA forecast.
A small business conference held in downtown Los Angeles had some words of encouragement for local entrepreneurs facing a tough economic climate.
A new report suggests California’s unemployment rate could spike another 1.7 percent over the remainder of the year.
A new survey shows one-fifth of small business owners do not expect to stay in California longer than the next three years.
The move comes as pension contributions are expected to double in the next decade from about $155 million to about $306 million in 2020.
The latest forecast from UCLA says Orange County — ground zero for the housing meltdown — may not fully recover until middle of the decade, but is already showing signs of life.