Right now, California's jobless rate is 10.7%. It peaked at
12.5% in 2010. The rate's been inching down ever since.
Economist Jeff Michael is with the Business Forecasting Center
at University of the Pacific in Stockton.
"We see (the) unemployment rate going into single digits in
mid-2013 and in the past we've been saying the end of
He attributes the improved forecast to better than expected
job growth. California is now outperforming the rest of the country
when it comes to job creation…with "health services" being one of
the leading job sectors.
"It did really well in the recession compared to
everything else. You know, everything else was declining. We don't
see any significant variation from that pattern going
He says overall job growth in the state will rise at a gradual
pace, 1.8%, for the next year-and-a-half with the unemployment rate
falling below 9% in 2014 and below 8% the following year.