Topic: Income
Report
San Diego County’s poverty rate of 13.8% vastly undercounts the number of families living in economic insecurity. Fully a third of all households headed by people under age 65 have incomes below the cost of living in the region. Based on the costs of basic family budget items, the Self-Sufficiency Standard indicates the yearly income families need just to get by. The basic budget starts at almost $28,000 a year for a single adult, which would require an hourly wage of at least $13.23 if working full-time all year long. The budget grows with family size and differs according to the ages of children in the family. Self-Sufficiency is the ability to afford the bare-bones costs of living without public or private assistance. The calculation of the standard includes only no-frills items like housing, food, transportation, child care, healthcare, and taxes.
News
Feb. 5, 2017
Nowhere is this dynamic more evident than in California, where the state government has all but declared war on single-family homes by banning new peripheral development, driving up house prices throughout metropolitan areas. Regulatory fees typically add upward of $50,000, two-and-a-half times the national average; new demands for “zero emissions” homes promise to boost this by an additional $25,000.
News
Feb. 2, 2017
Real gross domestic product (GDP) increased in 48 states and the District of Columbia in the third quarter of 2016, according to statistics on the geographic breakout of GDP released Thursday by the U.S. Bureau of Economic Analysis. . . . California saw a 3.3 percent growth rate, 16th lowest in the nation, tied with Alabama, Pennsylvania and the District of Columbia.
News
Feb. 1, 2017
According to a landmark study for the Equality Opportunity Project, Stanford’s Raj Chetty and coauthors found that certain state and community colleges offer effective pathways to higher incomes for younger generations. . . Of the top ten colleges in the country with the best mobility rates, three are in California: top-ranked Cal State Los Angeles, Glendale Community College and Cal Poly Pomona.
News
Feb. 1, 2017
The speech, at a meeting of the California Latino Economic Institute, served as a counter-step to Gov. Jerry Brown’s indictment of Trump in his State of the State address last week. While echoing Brown’s characterization of California as a “beacon of hope” for other states and countries, Villaraigosa lamented rising home prices, stagnant wages and a state poverty rate that ranks highest in the nation when adjusted for the cost of living. . . .“So we can’t be truly progressive unless all of us in California are progressing together … Economic inequality has grown because our policies have not kept pace with our changing economy.”
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