Executives have grown more optimistic about growth, in part anticipating that President-elect Donald Trump’s administration and Republican congressional majorities will bring regulatory rollbacks, corporate tax breaks and increased infrastructure spending.
While the most current complete tax data from the Franchise Tax Board is for 2013, the recently published zip code data enables some preliminary analysis for the 2014 receipts. By region, 40.3% of PIT revenues came from the Bay Area. More importantly, 51.2% of the increased PIT revenues in 2014 came from this region, once again illustrating how much California is reliant on a single region not only for continued jobs and employment growth, but the continued health of the state’s fiscal situation. Los Angeles, with 30% of the population, was the next largest region, paying 27.5% of total PIT and a 25.5% share of the increased PIT receipts. In the absence of state policies that promote more balanced and geographically dispersed jobs growth, California’s finances will likely continue to be reliant on the economic health of one region.
Governor Edmund G. Brown Jr. today proposed a $122.6 billion General Fund budget plan for 2016-17 that makes significant increases in funding for education, health care and state infrastructure, while bolstering the state’s Rainy Day Fund and paying down state debts and liabilities.
These projections reveal the significant impact the aging population will have on labor demand and labor supply. Health-care jobs will grow fastest, and nearly one-quarter of the labor force will be older than prime working-age (a term that might itself need to be retired). More generally, job growth will favor women and those with advanced degrees, while men with high school degrees may face the biggest labor-market challenges.
Reich has a different vision: that government should mandate that all employers offer higher wages, and that people who can’t find jobs at those wages should be denied the chance to work. But creating a permanent underclass of people who can never get the skills for a meaningful career is not moral; it is cruel.
In this report, we present a number of suggestions for practical reform to patent policy consistent with the original public meaning of the Patent Clause, which will foster more innovation, entrepreneurship, and economic growth.
To bring the pavement condition and essential components such as storm drains, gutters, sidewalks and curbs of local streets and roads to a level of Best Management Practices (BMP), there needs to be an additional investment of $8.22 billion dollars annually over the next ten years.
“We can’t let communities fall behind. We can’t create a situation in which only the wealthy take advantage of subsidy programs,” said Assemblyman Henry Perea, a Fresno Democrat.
It’s noteworthy that May marked California’s third consecutive month of sub-3 percent year-over-year job growth, by ADP’s math. While it’s hard to complain about growth, the last time California payrolls expanded this slowly was the first three months of 2012.
Employer costs for employee compensation jumped 4.9% from a year earlier in March, the Labor Department said Wednesday, the second consecutive increase at that relatively robust level.
Even as the state struggles through an epic water crisis, Gov. Jerry Brown assured residents Tuesday that technology, adaptation and “a more elegant” way of living would ultimately preserve the California dream for generations to come.
Fresno will be one of eleven “pioneering” cities nationwide participating in a new White House-sponsored initiative designed to allow local government to issue new small business licenses within 24 hours.
Two Democratic state senators plan to introduce legislation Wednesday to overhaul Proposition 13, the state’s landmark restrictions on property taxes, so local governments can raise more revenue from commercial and industrial properties.
After taking a significant recession-era hit, California’s economy has bounced back up to the seventh largest in the world as the state’s gross domestic product reached $2.3 trillion in 2014, according to figures released Wednesday by the U.S. Bureau of Economic Analysis.
Although business advocates and economists argue over the effect of lost headquarters, it’s clear that Southern California has seen a run of major corporate departures in recent years. Whether that reflects poorly on the local business or regulatory climate is a more complicated question.