California will continue to outpace the nation’s growth over the next two years, but the world’s sixth-largest economy faces unique risks under the incoming Trump administration, according to recent reports from California economists.
The state’s job growth is slowing from 2.5% in 2016 to 2.1% next year, but will remain ahead of the national employment growth rate, which will remain steady at 1.8%, according to a report from the A. Gary Anderson Center for Economic Research at Chapman University in Orange, Calif.
A report from the UCLA Anderson School of Management forecasts the state’s 5.3% unemployment rate will essentially remain the same through late 2018.
“California will benefit less from any possible stimulus under a new president than states in the Midwest and Northeast,” the UCLA report says. “The state is basically at full employment—and where the state will find people to fill new jobs remains to be seen as the new presidential administration is expected to oppose an expansion of the skilled worker visa program.”
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