Los Angeles’ new mayor has vowed to help stanch the flow of film and TV production jobs out of Hollywood, starting with the appointment of a film czar at City Hall. But to make a real difference, Eric Garcetti needs to convince skeptical state pols to combat the lure of rich tax incentives from outside California.
Massachusetts retained its No. 1 spot as the state with the most R&D jobs in biotech (27,883), according to an annual industry report published by MassBio, the state’s industry trade group, and released this week. California ranked second with 23,438 biotech R&D jobs. But from 2007 to 2012 — among the darkest days for the biotech industry as investors retreated from the sector — those California jobs grew by 4,304, or 22.5 percent. That beat Massachusetts by almost two-to-one.
Export manufacturing has recently become the unsung hero of the U.S. economy. Despite all the public focus on the U.S. trade deficit, little attention has been paid to the fact that the country’s exports have been growing more than seven times faster than GDP since 2005. As a share of the U.S. economy, in fact, exports are at their highest point in 50 years.
One of the biggest obstacles facing Americans today is a lack of opportunity and social mobility. While we have entry-level and high-end jobs, we have lost the jobs in the middle that helped each generation of Americans do better than the one before it. Some call this an “hourglass economy”; I tend to think of it as a canyon being hollowed out between the two ends of the job market.
As the debate over the practice of hydraulic fracturing to reach deeply embedded oil heats up, listening to a discussion on the topic sponsored by Los Angeles’ BizFed Institute last week, I have the feeling we will see it happen. Or should I say continue to happen since fracking, as it is called, has been going on in California for 60 years.
CropScience, a division of Bayer AG, in West Sacramento, California. The new facility will serve as the U.S.-based R&D operations for the vegetable seed and crop protection products. The approximately 164,000-square-foot facility on ten acres will employ 300 at full capacity. The company will also acquire an additional non-contiguous site on which to construct a greenhouse and test plot facility. The project will have an economic impact of more than $127 million in output (the value of goods and services in the Sacramento Region economy on an annual basis generated through direct, indirect, and induced activities of the company.)
The insurance industry has provided over 210,00 jobs in 2010 and provided a payroll that totaled $14.9 billion, just in California!
Wells Fargo is cutting staff as higher rates cool residential mortgage lending, which has been on a tear in recent years.
Within five years, higher manufacturing exports due to a widening cost advantage over China and other major economies could add $20 billion to $60 billion in output to Mexico’s economy annually. And thanks to the North America Free Trade Agreement (NAFTA), U.S. manufacturers of components for everything from automobiles to computers assembled in Mexico also stand to benefit, according to new research by The Boston Consulting Group (BCG).
Underlying these national trends are wide differences in state economic activity. This monitor documents trends at the state level, noting particular differences in state economies. This first brief focuses on employment, state government finances, housing, and economic growth
This report analyzes fundamental demographic and employment trends that are changing our nation’s workforce and seem certain to continue long beyond the ongoing recovery from the recent deep recession.
SACRAMENTO – As California’s economy continues to rebound from the recession, the California Employment Development Department (EDD) is warning long-term unemployed individuals that they may no longer be eligible for the last tier in federal unemployment extension benefits. That’s because California’s unemployment rate is on track to dip below a three-month average of 9% – the minimum level required by federal guidelines in order to provide the final ten weeks of additional benefits associated with a Tier 4 federal extension.
California approached midyear 2013 with moderating employment gains and a steadily falling unemployment rate. Real estate markets were also improving and home building improved fitfully. Preliminary estimates show that personal income dropped 1.8 percent in the first quarter of 2013 from the fourth quarter of 2012, reflecting in part the expiration of the payroll tax holiday and the acceleration of income from 2013 into 2012.
This report is the successor to Help Wanted: Projections of Jobs and Education Demand through 2018, in which we examined the connections between educational attainment and educational demand in the labor market.
California political leaders, starting with Gov. Jerry Brown, should be popping the champagne corks: the state has rebounded enough to surpass Italy and Russia and reclaim its title as the world’s eight’s largest economy in 2013, according to a new study by the Center for the Continuing Study of the California Economy.