Region: California
Report
The state budget is better prepared for an economic downturn than it has been at any point in decades. In 2015–16, we project that the state’s “Big Three” General Fund revenues—principally the personal income tax—will exceed June 2015 budget assumptions by $3.6 billion, with most of that gain to be deposited into the Proposition 2 rainy day fund. In 2016–17, we project that revenues will exceed spending under current policies, resulting in even further improvement in the state’s fiscal situation. Assuming no new budget commitments are made, we estimate 2016–17 would end with reserves of $11.5 billion.
Report
A new study shows that about 9,000 companies left California in the last seven years to reduce costs and improve prospects of growing their businesses. The report provides details about disinvestments by company name, ranks the popularity of the destination states and cities, and outlines the difficulties of doing business in California.
Report
Because fundamental changes in attitudes and behaviors are critical, the group is urging researchers and scholars to come together with community and religious leaders to create a culture of climate action to take concrete steps toward solving our shared climate crisis.
Report
The 2006 standards helped to create a sharp drop in the number of air conditioning shipments. The agency anticipated a slight drop of 130,000 shipments. Instead, shipments declined by more than 1.55 million, according to agency and industry estimates. Thus, the energy required for residential cooling use likely didn’t decline as expected between 2007 and 2010; it increased.
Report
"Following a 3.0% increase in 2014, nonfarm jobs are expected to grow by 2.9% in 2015, and then slow slightly to 2.4% in 2016. The unemployment rate stood at 6.3% in July and is expected to decline to 5.8% in 2016. With further improvements anticipated for the labor market, personal income and total taxable sales should increase by 4.9% and 4.5% respectively this year, with similar or better gains in 2016."
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