07/17/2018

News

California’s ranking as an oil-producing state is slipping

In many ways, the oil business in the U.S. has never been better, with domestic producers in a growing number of states churning out barrels of crude in record numbers. But California’s output is going in the opposite direction — part of a larger, steady decline that began in the mid-1980s. For all of its […]

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As Economy Grows, Why Aren’t Wages Rising Faster?

Strain admits that this is just a guess, and finding corroborating evidence is hard. He also usefully lists other theories. With thanks and apologies to him, here’s a summary of his summary. (1) There’s more “slack” in labor markets than standard employment statistics indicate. People who had given up looking for work are re-entering the […]

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Opinion: How a Rich Californian Hijacked the Legislature

California’s ballot initiative process, created 107 years ago to bypass a corrupt state government in Sacramento, is a form of “direct democracy” by which voters make policy themselves, at the ballot box. In recent years, however, it has also become a playground for enormously wealthy people, who use their personal resources to promote their preferred […]

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In This Economy, Quitters Are Winning

Workers are choosing to leave their jobs at the fastest rate since the internet boom 17 years ago and getting rewarded for it with bigger paychecks and/or more satisfying work. Labor Department data show that 3.4 million Americans quit their jobs in April, near a 2001 peak and twice the 1.7 million who were laid […]

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SF restaurants struggle for balance in prices, service as wage hike arrives

San Francisco restaurateurs have been preparing for the $15 mark and its corresponding fallout for four years. Despite the anticipation for what has finally arrived, many continue to struggle with finding a balance, because tactics such as adjusting service models, cutting staff and raising prices can only go so far. “It’s a catch-22. People need […]

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San Francisco’s Minimum Hourly Wage Bumps to $15 on July 1

The minimum wage in San Francisco increases to $15 an hour July 1 under a ballot measure approved by voters in 2014. San Francisco is the first major city in California to hit the magic $15 mark, but it won’t be the last. Two years ago, California lawmakers approved a plan to increase the state’s […]

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Big Tech’s Hot New Talent Incubator: Community College

Americans are burdened with about $1.4 trillion in student loan debt. One in four has a low wage job, which is by far the highest proportion of any advanced economy. Meanwhile, there are hundreds of thousands of open positions in the U.S. in fields like cybersecurity, cloud computing, computer programming, data science, tech support and […]

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U.S. Hiring Strong in June; Unemployment Rate Rises as More Enter Labor Force

Hundreds of thousands of Americans started looking for jobs and employers added 213,000 to their payrolls last month, the Labor Department said Friday. Many of those job seekers were snapped up by employers while some were counted as unemployed while they sought out work, which helped push the jobless rate up to 4.0%, from an […]

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Can Silicon Valley Disrupt How We Build?

From the end of the Second World War until a few years ago, when it cooled off, productivity surged across the U.S. economy, giving rise to what’s often called the “productivity miracle.” From manufacturing to agriculture to retail, industry after industry became cheaper, faster, more mechanized, and more efficient. But the same can’t be said […]

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San Francisco Restaurants Can’t Afford Waiters. So They’re Putting Diners to Work.

Inside these restaurants, it’s evident that the forces making this one of the most expensive cities in America are subtly altering the economics of everything. Commercial rents have gone up. Labor costs have soared. And restaurant workers, many of them priced out by the expense of housing, have been moving away. Restaurateurs who say they […]

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Gender Imbalances in STEM Majors

Statewide, only a few majors are gender balanced—meaning that half the bachelor’s degrees are awarded to women and half to men. In 2016, according to federal data, among the 22 most popular majors in California’s public and private nonprofit colleges, more than 60% of the bachelor’s degrees in 10 majors and fewer than 45% of […]

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UCLA Anderson Forecast sees economy moving ahead ― for now

The overall economy appears to be growing at a steady pace, but there are potential threats that could affect the United States and California economic outlooks, according to the UCLA Anderson Forecast’s second quarterly report for 2018. The risk of a trade war with one or more of the major U.S. trading partners, the uncertainties […]

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The Impact of the Dodd-Frank Act on Small Business

There are concerns that the Dodd-Frank Act (DFA) has impeded small business lending. By increasing the fixed regulatory compliance requirements needed to make business loans and operate a bank, the DFA disproportionately reduced the incentives for all banks to make very modest loans and reduced the viability of small banks, whose small-business share of C&I […]

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How Dodd-Frank Stole The Recovery By Killing Small-Business Growth

Possibly the biggest reason for the Obama administration’s failure to reignite normal economic growth following the Financial Crisis was the Dodd-Frank law. It not only didn’t make the financial system safer, it all but killed small business growth. A new study released by the National Bureau of Economic Research (NBER), the quasi-private think tank that […]

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Is California’s expensive housing scaring away job seekers?

Plenty of workers still move West each year for a new job in California. But the state’s high cost of housing may be deterring many other job seekers from moving into the state. Business leaders up and down the state say California’s expensive housing makes it challenging to recruit new workers — and to keep […]

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