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The latest analysis of California and U.S. economies by the UCLA Anderson Forecast suggests that California will have a slower growth in 2024, mainly because of weaknesses in certain parts of the economy. California’s economic growth rate in 2023 was three-point-seven-percent, but it slowed down to two-point-eight-percent in the second quarter of 2024, which is lower than the overall U.S. growth rate. This slower growth is causing a higher unemployment rate in the state, which reached five-point-three-percent in August.