The latest economic figures out of Chapman University suggest California’s about to see some job growth. The university’s A. Gary Anderson Center for Economic Research today released its California Index of Leading Employment Indicator.
And that indicator increased from 99.3 from the third quarter of this year to 101.1 in the fourth quarter.
What does it mean? If the indicator is below 100, it means year-over-year job loss for California. If it’s above 100, like it is now, it means year-over-year job gain.
At barely more than 101, it’s not much gain, but it’s some. This is the first time the indicator’s been in positive-job-growth territory in two years.
Economists say Orange County started seeing job growth in the last three months, but California has lagged behind. The indicator suggests California will now start seeing some job growth, too.
The indicator takes into account four areas of the economy: the gross domestic product, or GDP, which indicates how the U-S economy is doing; exports; the S&P 500; and California construction spending.
Economists found all of those were positive, except California construction spending.