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Report: California Economy to Lag Behind

An economic forecast says California´s economic recovery is expected to lag behind the rest of the nation´s. The study by the Los Angeles County Economic Development Corporation says California´s economy will likely trail behind other states as long as the Golden State´s budget woes go unsolved.

The forecast says the workers´ compensation insurance crisis in California also will contribute to a lag in hiring.

The forecast sees the employment picture for the state mixed. For the year, the northern half of the state is expected to lose 42,800 jobs, while Southern California will likely create 60,000 jobs.

Among the business sectors most likely to prosper under current economic conditions are aerospace, international trade and new homebuilding.