Job losses in California will continue to accelerate well into next year, according to a report issued Monday from Chapman University in Orange.
Chapman reports that its leading employment indicator index declined for the 10th consecutive quarter to 83.5, the lowest level since the first quarter of 1992. An index value below 100 signals negative payroll job growth during the following six months.
The decline is also accelerating, down 12 index points from a reading of 95.8 in the third quarter and down from 112.2 a year ago.
Esmael Adibi, director of the Anderson Center for Economic Research at Chapman said the sharp drop in construction spending and weak real gross domestic product growth were the primary factors causing the decline.
