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Rough End to 2012 for California on Jobs Front



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(Sacramento, CA)
Friday, January 18, 2013

This is not how economists hoped California would end the year.

Adibi: "It's a little bit more than a cold.  It's probably a flu."

Chapman University economist Esmael Adibi says the fiscal cliff uncertainty in Washington likely gave employers pause last month, as did a holiday shopping season that fell below expectations.  And looking ahead, Adibi warns, the social security payroll tax increase and continued lack of a debt and deficit deal mean things might not improve soon.

Adibi: "Job creation is going to be very anemic.  I mean, it's gonna be still positive, but it's not gonna pick up steam until we remove that uncertainty."

So, look for job growth in 2013 to be a lot like 2012 - two steps forward, one step back.

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