California Economic Gloom Starting to Lift

Posted: November 28th, 2012

After nearly five years of brutal economic decline, government retrenchment and a widespread loss of confidence in its future, California is showing the first signs of a rebound. There is evidence of job growth, economic stability, a resurgent housing market and rising spirits in a state that was among the worst hit by the recession.

California reported a 10.1 percent unemployment rate last month, down from 11.5 percent in October 2011 and the lowest since February 2009 … though the state still has the third-highest jobless rate in the nation…

The housing market, whose collapse in a storm of foreclosures helped worsen the economic decline, has snapped back in many, though not all, parts of the state.

A federal report this month said that by some measures, California has the worst poverty in the nation.

Read the entire NY times article California Finds Economic Gloom Starting to Lift, by Adam Nagourney, here.

Read the people of California voted to tax themselves to fund public education and green jobs on November 6, 2012.

Read KCET Departures article If You Want Jobs and Justice, Keep Our National Parks Open by The City Project’s Robert García.