Business & Economy

Report: California economic growth to remain slow

A university forecast predicts that California's economy will grow at a nearly imperceptible rate, with high unemployment keeping the state a year or more away from beginning a more rapid ascent toward prosperity.

The quarterly Anderson Forecast released Wednesday by the University of California, Los Angeles, says that the state is unlikely to generate enough jobs to tug unemployment down to single digits until the end of 2012, despite several bright spots.

Unemployment is forecast to decline throughout 2010 and average 12.2 percent for the year after hitting a modern record of 12.6 percent in March.

Real personal income is forecast to grow at 0.6 percent in 2010, 2.2 percent in 2011 and 4.1 percent in 2012.

Copyright 2010 The Associated Press.