Economy Expected to Keep Declining till End of 2009

Sing Tao Daily, Posted: Oct 29, 2008

IRVINE – The UCLA Anderson School of Management published a research findings Monday that indicates that the unemployment rate will keep increasing until the year 2010.

The Sing Tao Daily reports that California’s economic revival is a long way away. Jerry Nickelsburg, an economist at the UCLA Anderson School of Management, said that California’s economy will go up after its financial and real estate industries bottom out, which is not expected to happen before the end of next year.

The unemployment rate in California will keep increasing to a possible high of 7.2 percent in 2009.

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