In this issue, the Regional Quarterly Report takes a look at state personal income for the third quarter of 2013. Growth slowed in 25 states, accelerated in 22 states, and was unchanged in 3 states and the District of Columbia. On average, state personal income rose 1.1 percent in the third quarter, compared with 1.2 percent in the second quarter.
An analysis of annual changes of four economic performance indicators— economic output (GDP), employment, unemployment rates and home prices—between 2012 and 2013 across the 3,069 county economies . . .
Economic activity in the Twelfth District expanded at a moderate pace during the reporting period of late November through late December. Price inflation was subdued for most final goods and services, and upward wage pressures were modest overall. On balance, holiday retail sales increased relative to the year earlier. Demand for business and consumer services edged up. District manufacturing activity advanced. Output in agricultural and resource-related industries expanded. Demand for residential real estate climbed further, and commercial real estate activity improved. Reports from financial institutions indicated that loan demand increased.
SACRAMENTO – Committing to “pay down our debts and remember the lessons of history,” Governor Edmund G. Brown Jr. today delivered his annual State of the State address, highlighting California’s comeback while vowing to establish a solid rainy day fund to help maintain the state’s fiscal stability.
On-location production in feature films and TV dramas in L.A. has dropped significantly due to increasing competition from other states and countries, according to a report released Tuesday.
An upcoming economic report predicts Sacramento will see modest job growth largely confined to the service sector job in 2014. Added pressure will be on hospitals due to implementation of the Affordable Care Act, and builders will continue to be hit by a cooling of the home purchasing frenzy that occurred within the last couple of years.
The economic forecasts were prepared in November 2013 by the California Department of Finance for the Governor’s Proposed Budget.
Tables: http://www.dof.ca.gov/HTML/FS_DATA/LatestEconData/FS_Forecasts.htm
Los Angeles is barely treading water while the rest of the world is moving forward. We risk falling further behind in adapting to the realities of the 21st century and becoming a City in decline.
This summary report on the 2013 Summit lays out the background behind the Summit and gives a roundup of Summit commitments, a collection of some of the best thinking from across the state about how to drive sustainable economic growth in California.
Allied Van Lines moved 37 percent more families out countywide than in last year, down from 43 percent net emigration in 2012. U-Haul officials, who observed 5.9 percent net immigration to the city of San Diego in 2012, said this reversed last year to 1.6 percent more customers moving out in 2013.
The Los Angeles 2020 Commission, created by the City Council, didn’t mince words in its report, “A Time for Truth,” declaring, “Los Angeles is barely treading water while the rest of the world is moving forward. We risk falling further behind in adapting to the realities of the 21st century and becoming a city in decline.”
American employers added a disappointing 74,000 jobs in December, a tally at odds with recent signs that the economy is gaining traction and moving beyond the supports put in place after the recession.
U.S. payrolls rose by 74,000 last month, the smallest monthly gain in three years, the Labor Department said Friday. The figure marked a sudden pullback from growth of 200,000 or more in the prior two months.
The Labor Department said the unemployment rate fell to 6.7% from 7%, though the decline was largely the result of people leaving the workforce. Economists had expected a gain of 200,000 jobs and a 7.0% jobless rate, according to a Dow Jones Newswires survey.
California reported the largest drop in new claims of 14,635. It attributed the change to fewer layoffs in the service industry.
Private-sector payrolls increased by 238,000 positions in December, according to the national employment report compiled by payroll processor Automatic Data Processing Inc. and forecasting firm Moody’s Analytics. The gain is the highest ADP estimate since November 2012.