California’s economic engine remains slow, and that’s expected to continue in coming years as employers have trouble finding workers in the expensive state, according to a new report.
The latest UCLA Anderson Forecast calls for job growth of 1.8% by year’s end, 1.6% in 2018 and 1.2% in 2019.
Going forward, businesses simply will have difficulty finding more workers, thus limiting growth.
Economists say expensive housing makes it difficult to recruit workers from out of state and point to that as one reason employers since January have added nearly 80,000 fewer jobs than in the year earlier period.
Economists generally blame the state’s affordability crisis on a lack of home building.