California Could See Sharp Drop in Job Growth, Moderate Recession by 2024: Chapman Forecast

A construction worker pushes his wheelbarrow past a homeless man sleeping on a Hollywood sidewalk in Hollywood, Calif., on Jan. 20, 2023. Frederic J. Brown/AFP via Getty Images

California could face a sharp decline in job growth by the end of this year as the state grapples with a moderate recession, according to top economists at Chapman University.

In its latest bi-annual economic forecast released June 22, the school forecast job growth in the state to drop to 1.3 percent by December, compared to 5.6 percent last year.