Walters: California’s economy surges, but the future is cloudy

Last year was a strong one for California’s $3.4 trillion economy.

The state added 621,400 jobs, finally regaining the nearly 3 million that were initially lost during the COVID-19 pandemic as Gov. Gavin Newsom shut down major economic sectors. The year ended with a near record-low 4.1% unemployment.

“California continues leading the nation’s economy,” Newsom boasted after the December employment report was issued this month. Earlier he projected that if California were a nation, it would be close to surpassing Germany as the globe’s 4th most powerful economy.

All good. In fact, some economists believe that California’s job growth is so strong that only a shortage of workers – due to a

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