10/31/2024

News

Migration is Back

Two states, Minnesota and Massachusetts, have had 13 years of net domestic migration losses out of the last 14 years. Another nine states have had 14 years of net domestic migration losses out of 14. New York has suffered the largest loss, at 2,278,000 and the largest loss in percentage terms, 12.0%. California, also losing each of 14 years lost 1,739,000 net domestic migrants while Illinois lost 1,027,000 net domestic migrants in 14 years of losses.

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California Exports Plunge Nearly 14 Percent in November from 2014

The value of California’s merchandise exports in November was $12.86 billion, down 13.6 percent from $14.89 billion in November 2014 and the worst November showing since 2009, according to Beacon Economics.

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U.S. Trade Gap Narrows in November

The latest measure of U.S. trade flows from the Commerce Department on Wednesday showed imports and exports hitting their lowest level in years, a double whammy that hints at a domestic slowdown as well as anemic demand for U.S. products abroad.

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Chinese Stock Plunge Forces a Trading Halt, and Global Markets Shudder

The aftershocks carried over to Europe and the United States, where markets fell sharply once again. Coming off a sell-off on Wednesday, the Standard & Poor’s 500-stock index fell 1.3 percent in midday trading, while the Nasdaq dropped 1.6 percent

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Factory Weakness Seen Weighing on 4th-Quarter GDP

U.S. factories ended last year mired in their worst slump since 2009, highlighting the global forces set to weigh further on the manufacturing sector in the new year.

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Dow Plunges 276 Points in First Trading Day of 2016

U.S. stocked tumbled at the open and remained lower throughout the session on the heels of a rout in European and Asian markets. The Dow Jones Industrial Average fell as much as 467 points in morning trading before recovering slightly.

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The U.S. Economy’s Latest Growth Is Looking Increasingly Frail

Before Monday, the U.S. economy appeared to have ended 2015 on solid, though unspectacular, footing. Many economists were estimating that the nation’s gross domestic product–or the sum of all goods and services produced–grew at an annual pace of roughly 2% in October through December. . . But those estimates are falling, due to weak readings Monday morning on the nation’s manufacturing and construction activity, two key drivers of economic growth.

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Crime in Los Angeles Rose in All Categories in 2015, LAPD Says

Violent crime in L.A. climbed 19.9% and property crime increased 10.3% through Dec. 26 compared with the same period last year, according to the police data. It marked the second year in a row that violent crime rose, but the first time since 2003 that both violent and property crime rose.

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Americans Increased Spending, Saved More in November

Americans boosted spending in November as their incomes continued to tick up, a sign the economic expansion remains on track despite sluggishness overseas. . . Even with the higher outlays, households maintained a decent level of savings. The personal saving rate slipped to 5.5% in November from 5.6% a month earlier but remained at the second-highest level since the start of 2013.

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Why Weekly Jobless Claims Matter

But the less-heralded weekly jobless claims, due Thursday morning, still matter a great deal, perhaps now more than ever. They are useful for gauging the state of the labor market in a relatively real-time manner. Based on the past year’s trend, historically low levels of claims and budding signs of wage pressure suggest the Federal Reserve may feel pressure to accelerate the tightening pace in 2016.

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Capital Spending: The Economy’s Weak Spot

Hiring has improved, stock markets have rallied and consumer confidence has rebounded. But U.S. corporations remain hesitant to deploy funds to new projects and equipment, or to upgrade facilities and technology. Instead, companies continue to shower shareholders with record levels of dividends and buybacks.

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U.S. Economy Expanded at Slightly Slower Pace

The U.S. economy expanded at a slightly slower pace than initially estimated in the third quarter, as steady consumer spending was offset by a slowdown in inventory investment.

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Big Trends Will Affect California Politics

If these trends continue – and there’s no reason to believe they won’t – the redrawing of legislative and congressional districts should see a noticeable shift from Southern California to Northern California and particularly the Bay Area.

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Opinion: California’s Economy is Doing Well

In 2013, the latest year for which comprehensive data are available, California ranked fifth among the states in creation of new businesses, fourth in job creation from new businesses and fourth in total job creation.

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California’s Recovery Has Been Uneven Across the State

Millions of Californians continue to face economic hardship despite the steady job gains and declining unemployment of recent years. California’s official poverty rate in 2014 stood at 16.4 percent, down slightly from the prior year but still well above the state poverty rate in 2007, the year the Great Recession started in California.

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