The Bureau of Labor Statistics has released dramatically revised historical data suggesting that California's recession is much less severe than previously thought. This interpretation is mistaken -- the focus should be on personal income, not employment.

A recovery is unlikely to take hold in California until the spring of 1994.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.