*Brighter job prospects in CA?

Chapman University's employment index rose in the fourth quarter to its highest level since the second quarter of 2008. The index stands at 101.6; anything above 100 indicates job growth. But Chapman economist Esmael Adibi wasn't thrilled with the latest reading. From the OC Register:

Adibi compared the fourth quarter's tepid showing to the 1980s when the indicator hit a high of 125 and the state had strong job growth. In the decade of the 2000s, the indicator peaked at 122 in the third quarter of 2004.

The indicator is based on the S&P 500, GDP, exports and construction spending.

*There's also greater optimism among the state's commercial real estate investors, according to a UCLA Forecast report. Those in the Bay Area are especially upbeat. From press release:

"A recovery in commercial real estate always lags a recovery in the rest of the economy. What we are observing is typical in this part of the business cycle," said Nickelsburg. "After eighteen months of pessimism about office and industrial markets we have now seen six months of optimism."