California employers slashed 16,300 jobs from payrolls in April, according to data released by the state’s Employment Development Department on Friday. It was the first month that the state posted a job loss since June 2016.
Still, unemployment fell to 4.8%, from 4.9% in March, the lowest rate since 2001. The national jobless rate last month was 4.4%.
Sales at U.S. stores, restaurants and online retailers increased a seasonally adjusted 0.4% in April from the prior month, the largest gain in three months, the Commerce Department said Friday. Also, the University of Michigan reported its consumer-sentiment index rose to 97.7 in early May—the strongest reading since January, when sentiment reached a 13-year high.
California’s new-car sales market is cooling down, but Golden State dealers remain on track to again ring up more than 2 million unit sales in 2017, according to the Sacramento-based California New Car Dealers Association.
CNCDA released its first-quarter 2017 report on Tuesday, showing 506,745 new-car sales in the period. That was up less than 1 percent from 503,463 in the opening quarter of 2016.
Per-pupil spending is up 50 percent since Brown became governor, and will top $11,000 for the first time in his new budget. Moreover, much of the new money has been directed to school districts with large numbers of “high-needs” students.
However, Brown, et al, are unwilling to closely monitor how the extra money is spent, assuming that local school officials will do the right thing, or whether it’s closing the achievement gap.
They’ve ignored independent studies by prestigious organizations indicating that much of the extra money is being diverted away from the targeted students.
Only 32 percent of California households could afford to purchase the $496,620 median-priced Golden State home in the first quarter of 2017, according to a report issued Monday by the Los Angeles-based California Association of Realtors.