From the Pragmatic Conservative Website, article explaining how bad the reported (non)Recovery for Californias Economy has been: In the period from 1990 to 1996, California’s real gross domestic product grew by 8 percent, while between 2008 and 2013, its economy has only grown by 3 percent. Notable here is that in the 79 months after the July 1990 recession, California’s civilian non-institutionalized population grew by 5 percent, compared to 9 percent in the 79 months after the most recent recession. This combination of weak economic performance and stronger eligible working-age population growth means previously acceptable labor market growth isn’t adequate. A recovery that doesn’t provide enough jobs for the working population isn’t a true recovery. And that is where Sacramento’s comeback story falls apart. Unless pro-growth actions are taken, this will be the legacy of California’s anti-business climate: a state with millions who can work, but can’t find it.
Posted on: Mon, 06 Oct 2014 19:45:48 +0000
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