Economy

Sacramento forecast: more recession

The state's budget problems will keep the Sacramento region mired in recession and push unemployment to 13.5 percent early this year, according to a new forecast.

Unemployment was 12.4 percent in November, the latest figures available.

The grim outlook is contained in the latest edition of the Sacramento Business Review, a twice-a-year forecast produced by California State University, Sacramento, and the Sacramento chapter of the Chartered Financial Analyst Institute. The forecast is to be released today.

Even though the national economy probably turned the corner last summer, the Sacramento area is still heading south, said co-author Sanjay Varshney, dean of the CSUS College of Business Administration.

"We will probably regress another quarter," he said in an interview.

Read the complete story at sacbee.com

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