There's Economic Hope for the Golden State

min read

cali-economy.jpgThe latest UCLA Anderson Forecast for the California economy was released today, and it foresees a recovery from recession for the Golden State late next year.

It sounds like good news, and it surely offers some hope for entrepreneurs, but in the meantime the report says California business and unemployment will continue to falter, with any bounce back coming slowly in the fourth quarter of 2009.

Southern California business journalist Mark Lacter writes at LA Biz Observed that a possible increase in sales taxes paired with a rise in unemployment will be serious hurdles to an economic comeback for the Golden State.

"UCLA economist Jerry Nickelsburg says a lot will depend on several unknowables: when the bottom is finally reached in construction and finance, how great the drag on state and local employment will be, and when consumers return to the malls," Lacter states.

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Amplify your business knowledge and reach your full entrepreneurial potential with Entrepreneur Insider’s exclusive benefits. For just $5 per month, get access to premium content, webinars, an ad-free experience, and more! Plus, enjoy a FREE 1-year Entrepreneur magazine subscription.
Discover a better way to hire freelancers. From business to marketing, sales, finance, design, technology, and more, we have the freelancers you need to tackle your most important work and projects, on-demand.

Latest on Entrepreneur