Like most of the country, southern California has been left reeling in the wake of multiple economic blows. Cities like San Diego continue to struggle with massive budget deficits and many citizens are barely staying afloat.

Between 2008 and 2009, the number of Californians filing for bankruptcy skyrocketed, climbing nearly 37 percent. Out of all mortgage owners in California, a whopping 35 percent are underwater. In fact, things are so bad that Obama recently announced plans to help bail out homeowners at risk of foreclosure.

Still, for all of this, things appear to be looking up - according to analysts from the Kyser Center for Economic Research.

In the report, analysts predict that unemployment will stay high, but the rate of job losses will slow considerably. In addition, sectors such as entertainment, trade and tourism should help fuel regional growth.

All told, Southern California could see job growth in the neighborhood of 80,000 positions. Even so, at more than 12 percent unemployment, the state will likely continue to sit high above the national percentage in terms of joblessness.

The report also had good news for the housing market. Analysts predicted thousands of additional permits to be filed in Los Angeles County and home construction to maintain an upward swing across the state.

It's positive news to be sure, especially coming from a group whose single priority is to understand, analyze and predict the current trends and pending changes in the Southern California economy.

But will it be enough? Until change becomes more permanent, it'll have to be.

At the very least, it seems there will be solid steps in the right direction.

Still, nothing is certain. If there are any conclusions to be drawn from the Kaiser report, it's that California has a fight in front of it.

Related Resources:

  • Southern California Economic Recovery is Forecast (LA Times)