The federal and state tax credits provide the largest cash payment many families will receive in a year – money that can go toward repaying debt, building savings or buying goods and services that support economic growth. Yet each year, California residents leave approximately $2 billion in tax credits on the table, with one of […]
California’s tax revenues far exceeded expectations in January for the second consecutive month, but it remains to be seen how much of the excess reflects underlying strength in the economy, versus people speeding up their 2017 state income tax payments while they were still fully deductible on federal tax returns. State income tax revenues for […]
Celebrity endorsements aside, there’s an increasingly pervasive feeling among those of us who actually live here that the California dream is just harder than it used to be. A recent USC Dornsife/Los Angeles Times poll found that only 17 percent of Californians believe the state’s current generation is doing better than previous ones. More than […]
The EITC is working, but creating a California where work pays enough to cover people’s basic needs will require more of it. Ending the poverty crisis requires a minimum wage that is a living wage — $25 per hour. It’s time to live up to our progressive rhetoric and be champions for the millions of […]
The rise of digital media is powering job growth in the entertainment industry throughout Los Angeles and Orange counties, according to a new report. The digital media industry accounted for 206,880 jobs in the two counties in 2016, a 12% increase since 2006, according to the report by a coalition of industry groups including the […]
This is one of those cases where the concept makes a certain amount of sense in the philosophical realm, while being borderline crazy in the real world. If California ended its generous “ragbag” of welfare and support programs — programs that can provide more than $35,000 in benefits a year — then simply giving the […]
Occupational licensure, one of the most significant labor market regulations in the United States, may restrict the interstate movement of workers. We analyze the interstate migration of 22 licensed occupations. Using an empirical strategy that controls or unobservable characteristics that drive long-distance moves, we find that the between-state migration rate for individuals in occupations with state-specific licensing exam requirements is 36 percent lower relative to members of other occupations. embers of licensed occupations with national licensing exams show no evidence of limited interstate migration.
California’s economic engine has slowed somewhat in 2017 and that’s expected to continue in coming years as employers have trouble finding workers in the expensive state, according to a new report.
The latest UCLA Anderson Forecast, released Wednesday, calls for job growth of 1.8% by year’s end, 1.6% in 2018 and 1.2% in 2019. That’s not necessarily a bad thing, economist and forecast director Jerry Nickelsburg said.
Last year was a very good one for the state’s economy. The 3.3 percent gain in economic output in 2016 was more than double that of the nation as a whole and one of the highest of any state.
However, California stumbled during the first half of 2017. California’s increase was an anemic six tenths of one percent in the first quarter compared to the same period of 2016, and 2.1 percent in the second quarter, well below the national rate and ranking 35th in the nation.
The U.S. economy is headed into the final stretch of 2017 powered by one of sturdiest periods of growth in its nine-year expansion, a vigor that is helping drive stock-market indexes to new highs.
With the growth of artificial intelligence (AI), many are worried that we may all be put out of work, replaced by robots. We can stop worrying. We’ll run out of jobs when we run out of goods and services we desire. Which will be never.
The U.S. economy is running at its full potential for the first time in a decade, a new milestone for an expansion now in its ninth year.
Total economic output in the third quarter was slightly above the maximum sustainable level of output as estimated by the nonpartisan Congressional Budget Office.
This is a measure of the economy’s potential to produce goods and services based on the supply of people working and how productive they are.
Plenty of jobs still exist in the US economy, but plenty have been lost. And the jobs that have vanished were good jobs, middle-class ones—the kind that helped families buy houses, cars, and college educations for their children. Many of the jobs were available to immigrants and workers without college degrees, and allowed them to work toward the American dream.
The revival of America’s core cities is one of the most celebrated narratives of our time—yet, perhaps paradoxically, urban progress has also created a growing problem of increasing inequality and middle-class flight. Once exemplars of middle-class advancement, most major American cities are now typified by a “barbell economy,” divided between well-paid professionals and lower-paid service workers. As early as the 1970s, notes the Brookings Institution, middle-income neighborhoods began to shrink more dramatically in inner cities than anywhere else—and the phenomenon has continued. Today, in virtually all U.S. metro areas, the inner cores are more unequal than their corresponding suburbs, observes geographer Daniel Herz.
California’s economic growth in the second quarter ranks only 35th in the nation, according to a report Tuesday from the federal Bureau of Economic Analysis.
Gross domestic product growth in California was just 2.1 percent in the quarter, second-lowest in the West, trailing Hawaii’s rank of 40th.
Real gross domestic product increased in 48 states and the District of Columbia in the second quarter of 2017, according to statistics on the geographic breakout of GDP released today by the BEA. Real GDP by state growth in the second quarter ranged from 8.3 percent in North Dakota to -0.7 percent in Iowa.