More People And Fewer Jobs Will Slow California's Recovery

According to David G. Shulman of Salomon Brothers Inc., California's economic outlook is clouded by a growing imbalance between population growth and job growth. He notes that in the 1970s, the population expanded by 3.6 million, while jobs rose by 2.9 million, and in the 1980s the state added 6.1 million people and 3 million jobs.

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