California has enjoyed a couple of pretty good months of economic rebound, especially when compared to the rest of the country. Expect to see more of that in August and September, but without a huge rally.
Chapman University's Anderson Center for Economic Research Monday released its California Index of Leading Economic Indicator for the third quarter, and it was virtually unchanged from the second quarter. The reading of 110.7 means that job growth will continue. Anything over 100 means jobs will be added.
The second quarter indicator came in at 111.0. An unchanged reading means growth should continue, but the pace won't intensify.
Anything under 100 would mean that employment levels were contracting. For the record, in the fall of 2009 it got as low as 68.2.
Chapman economists base this report on several factors, including the estimated value of exports estimates on construction spending. Both of those factors are higher in the third quarter. Two other factors, estimated GDP growth and the value of the S & P 500, both declined in the most recent quarter.
In May and June, the U.S. Bureau of Labor Statistics reported very modest job gains for the country. But in both those months, California accounted for about half those gains, leading economists to speculate that the state's economy might finally be catching up to the rest of the country's.
Most Popular Stories
- World Bank: Rich Countries Must Curb Emissions
- Airport Garners Social Media Award
- Social Media Campaign Increases Organ Donor Registrations
- What Will Happen When Quantitative Easing Ends?
- Immigration Reform Would Decrease U.S. Budget Deficit
- MillerCoors Taps New Hispanic Ad Agency
- Aetna Leaving California's Individual Health Insurance Market
- Conference Slated for Hispanic Tech Startups
- Tea Party Wants to 'Audit the IRS'
- Calories Count: Starbucks to Post the Numbers on Menu Boards