Sept. 26, 2013
"Between August 27 and September 5, Hoover’s Golden State Poll (a joint collaboration of the Hoover Institution and the research firm YouGov) surveyed 1,000 Californians on their confidence in California’s recovery – their job security and pocketbook choices (last October, a Hoover/YouGov survey sampled Californians’ attitudes toward state government and policy choices in Sacramento).
. . . Twice as many Californians reported being worse-off financially (33%) than better off (17%) over the last year.
. . . Among survey respondents who are currently employed, more than half (55%) said they weren’t confident in their ability to find another job in California within 6 months that pays as much as they are making now."
Sept. 19, 2013
Even as the economy shows signs of improvement and poverty levels off, new U.S. census data suggests the gains are halting and uneven. Depending on education, race, income and even marriage, not all segments of the population are seeing an economic turnaround.
In 45 states and the District of Columbia, poverty rates remained steady at high levels. Mississippi, the poorest state in the nation, was one of just three states posting increases, from 22.6 percent to 24.2 percent. California and New Hampshire were the others.
Sept. 18, 2013
The Sacramento metro area had the highest business bankruptcy rate in the United States, global information service company Experian announced Wednesday.
. . . Other California cities noted in the analysis: Bakersfield had thesecond highest business bankruptcy at 2.16 percent; San Francisco had the fastest businesses to pay bills after contracted terms at 3.2 days; and San Diego had the fourth lowest delinquency rate at 3.13 percent.
Sept. 18, 2013
Poverty continued creeping upward in the Los Angeles area last year, long after the declared end of the recession, new estimates from the U.S. Census Bureau show.
The numbers are another sign of continued suffering after the economic downturn: More than 17% of people in the Los Angeles, Long Beach and Santa Ana metropolitan area lived below the poverty line last year. That number rose year by year since 2007, when roughly 13% lived in poverty.
. . . “What is significant and new is that poverty is not rising and falling with the rest of the economy, it is just continuing to rise,” wrote Bill Parent, associate dean of the UCLA Luskin School of Public Affairs. “This is a terrible ‘new normal.’ The rising tide isn’t lifting all the boats.”
Sept. 13, 2013
Back-to-school shopping failed to boost the pace of consumer spending last month and retal sales growth unexpectedly slowed, the Commerce Department said Friday.