Bay Area economy at full employment, California is close

Source: San Jose Mercury News

California's economy is robust enough that the Golden State is nearly at full employment, according to a closely watched UCLA Anderson Forecast released Wednesday, and the Bay Area has already reached that sturdy level.

Despite both the Bay Area and the state being at or near those thresholds, the plateaus don't necessarily signal that a downturn is lurking for the respective regions, economists said.

"The Bay Area is at full employment and has been there for a little time," said Jerry Nickelsburg, senior economist with the Anderson Forecast.

Full employment doesn't have a straightforward definition. Typically, it's tied to a period of extremely low unemployment that's comparable to other periods of low jobless rates, but it goes beyond that. Full employment occurs when everyone who wants a job can have one at the prevailing wage for a region.

Read more: http://www.mercurynews.com/business/ci_29991732/bay-area-economy-at-full-employment-california-is