Video: What’s the holdup in the California recovery?
It may not seem like it, but California’s economy is recovering, just at a painfully slow pace. In one year, from July 2011 to July 2012, more than 365,000 were added—40,000 in L.A. County alone.
Right now, California’s unemployment rate is 10.7%. It’s higher in L.A—the unemployment rate is 11.2%.
Why does our state lag behind the rest of the nation? What can we do to create jobs and become competitive once again?
The chief economist with the Los Angles Economic Development Corporation recently gave a presentation at the second annual City Economic Development Conference held by the L.A. Division of the League of California Cities. He spoke with California Forward.