Daily Digits: More state job losses seenFriday, April 3, 2009 The California economy will lose nearly 1 million jobs before the recession finally ends later this year, according to the latest California and Metro Forecast, released today by the Business Forecasting Center at the University of the Pacific in Stockton. Get QuoteMore BusinessUnemployment is forecast to peak at 11.5 percent in San Jose, 11.3 percent in the East Bay and 9 percent in San Francisco, according to the report. A complete recovery will take at least three years, and unemployment will remain in double digits through 2011. Other numbers pulled from the forecast: 0.6% Decline in statewide personal income, 2009 1% Gain in health care jobs, the only sector expected to grow in 2009 6.5% Decline in California's real gross state product in the first half of 2009 12.1% Peak unemployment rate in California, early 2010 18% Peak unemployment rate in the San Joaquin Valley, December Source: Business Forecasting Center, University of the Pacific Send your suggestions for Daily Digits to John Batteiger at
This article appeared on page C - 2 of the San Francisco Chronicle |
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