Report: California Continues Uneven Recovery
Thursday, December 5, 2013
A new report shows California's economic recovery has been a mixed bag with coastal regions seeing healthy job growth while inland areas continue to struggle.
The Los Angeles Times reports the UCLA Anderson Forecast said in its quarterly report that coastal counties have employment gains that have outpaced other parts of the nation. However, inland regions are showing little or even negative growth. In Riverside and San Bernardino counties, the unemployment rate was nearly 10 percent in October.
UCLA economists say the inland areas which typically rely on government and construction haven't found a new engine of growth. And while home prices have recovered nicely in California, those who live in Riverside and San Bernardino counties have further to climb to get out of underwater mortgages.
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