But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade? – Alan Greenspan
California has struggled the past six years to recover from the Great Recession. But recent economic statistics suggest that the Golden State is finally regaining its luster.
A few examples:
- The Economic Development Department (EDD) reports that California added 39,800 nonfarm payroll jobs in March, dropping the state’s unemployment rate to 6.5 percent. The unemployment rate is down from 6.7 percent the previous month and 7.9 percent a year ago.