Over the past few decades there have been troubling indications that dynamism and competition in the U.S. economy have declined. This paper describes the state of competition in the economy, related patterns in entrepreneurship, and policies that promote or inhibit competition. Business dynamism and competition are inherently intertwined, though the linkages are complex. Dominant firms […]
The growth that so impressed over the past five years has masked a multitude of policy sins, and as California’s economic engine slows down, the underlying problems are becoming harder to deny. People are moving out in greater numbers than they’re moving in. Rates of job creation—and the types of jobs being created—vary widely according […]
From 2007 to 2017 the fraction of Americans employed fell by 2.9 percentage points. As we discussed in a previous blog post coauthored with Harris Eppsteiner, the aging population has been driving the decline in the US employment-population ratio, or employment rate. (The employment-population ratio, or the employment rate, is the fraction of the overall […]
Getting a job at a store or fast-food restaurant — often a way into the economy for an unskilled worker — used to be as simple as walking up and down the mall and applying. Now, with store chains closing and laying off thousands of workers, that path is more complicated. The stores that remain […]
Southern California job growth outpaced the rest of the state as 2017 ended, while local wages grew slower than others in California. This comes from a quarterly job study by federal employment trackers based on detailed worker-by-worker data filed by employers. It’s typically a better snapshot of hiring and wage trends than monthly estimates released […]
“California’s public employee unions are backing a pack of bills that might help them hold on to members if the Supreme Court this summer issues a ruling that’s expected to deliver a serious blow to the finances for labor organizations. Two of the bills lay out standard guidelines governing how public agencies collect dues from […]
The emergence of the gig economy in the past decade has scarcely changed the U.S. labor market, according to newly released government data. Anyone who has ridden in an Uber, noticed a contractor working alongside them or taken a temp job to make ends meet might say the nature of work is shifting. But new […]
The U.S. had more job openings this spring than unemployed Americans. For the first time since such record-keeping began in 2000, the number of available positions exceeded the number of job seekers, the Labor Department said Tuesday, a shift that is rippling across the economy and affecting the behavior of employers and workers. U.S. job […]
California legislators have moved forward on extending the California Film and Television production tax credit for five years beyond its 2020 expiration. The State Senate unanimously approved Senate Bill 951 by a 37-0 vote on Thursday. The legislation continues the current annual allocation of $330 million in tax credits and extends the sunset of the […]
“Fully automated home framing is coming to the Central Valley, which could mean big savings for home buyers and builders in the future. The new Ripon-based business Entekra specializes in off-site wood framing for home construction. The company opened its offices and pilot manufacturing plant in the Central Valley city in early 2017 and has […]
The creative economy of the Los Angeles region saw significant job growth between 2011 and 2016, with statewide creative employment now exceeding the pre-recession highs observed more than 10 years ago, according to a new study. The annual Otis Report on the Creative Economy, which was released Tuesday, noted that direct employment in the Los […]
Silicon Valley will continue to boom for the foreseeable future, helping to spur a strong economy throughout the Bay Area, but the region’s surge will exacerbate housing and traffic woes locally, economic and political experts warned Thursday. Those rosy and forbidding assessments emerged during a San Jose State University economic summit, whose headline speakers insisted […]
While tariffs on the steel and agriculture industries have taken center stage in the trade conflict between the U.S. and China, that conflict has quietly moved into another less visible sector. It’s greatly disrupted the recycling industry. The U.S. is coming to the end of a 30-day suspension on all recycling going to China. But […]
President Trump’s announcement last year centered on his allegation that the Paris Agreement hurts the U.S. economy. The fact that our collective economies are stronger than non-alliance states proves just the opposite. Alliance states are not only reducing emissions more rapidly than the rest of the country, but we are also expanding our per capita […]
The U.S. labor market was firing on all cylinders in May: the unemployment rate fell to an 18-year low, employers added jobs at a faster pace and wages modestly improved. The unemployment rate ticked down to a seasonally adjusted 3.8%, matching April 2000 as the lowest reading since 1969, the Labor Department said Friday. Nonfarm […]