UCLA Anderson Forecast: US economy picking up slowly

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The UCLA Anderson Forecast says the U.S. economy is picking up slowly and will be for at least another year.

The Anderson Forecast predicts the national economy has been "muddling through" since the low point of the Great recession three years ago.

The report predicts the Gross Domestic Product – the country’s total economic output - will grow by about 1.5 percent per quarter for the rest of the year and improve slightly next year.

The forecast expects economic growth to top three-percent per quarter in 2014.

“Too slow to really bring down the unemployment rate a whole lot," said UCLA Anderson Forecast economist David Shulman "It isn’t really fast enough for people to feel really good about the economy.”

The forecast expects the economy to add about 160,000 jobs a month through next year, but that won’t bring the nationwide unemployment rate down below 8 percent until 2014.

But UCLA Anderson Forecast economists said job growth could be threatened if there is any slowing of China's economy and a worsening of the financial crisis in Europe.

The Anderson Forecast released Thursday shows California has been outperforming the nation in job creation since January 2010 with the state's tech boom creating new jobs each month.

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