California's job growth is expected to hold steady at 3 percent through the end of the year, then dip to a more moderate 2.1 percent growth rate in 2016, according to a University of the Pacific Eberhardt School of Business report released this week.

The ongoing 3 percent growth forecast through December is an upgrade on a 2.3 percent forecast issued by the university earlier this year.

This is the state's third-straight year of 3 percent growth, according to the report.

The report indicated that the statewide economic impact of drought amounts to only 0.1 percent of the California's gross domestic product despite a deteriorating water situation on the ground.

The report noted that several Central Valley communities, including Kings County, had unemployment rates that dropped into the single digits in 2015.

Agriculture has maintained its output at the cost of sucking massive amounts of groundwater from aquifers.

Growth in transportation, government and housing sectors is helping to boost the Valley's economy, the report stated.

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