The state Department of Finance, agreeing with most other economic forecasters, says California’s economy appears to have hit the bottom of the recessionary trough and is beginning to recover.
“A resurgent labor force is one of several signs that the economy is slowly getting back on its feet,” the department says in its monthly economic bulletin. “A resumption of job growth pulled discouraged people back into the labor market. Building activity, both residential and nonresidential, appears to have stabilized and, while still at low levels, has improved modestly from the beginning of 2009.”
Let us hope that these folks entering or returning to the labor force actually find jobs.
The full bulletin from the California Department of Fianance is availalble here — http://www.dof.ca.gov/finance_bulletins/2010/june/FB_%20June-10.pdf