10/24/2019

News

Local Area Personal Income: New Estimates for 2012; Comprehensive Revisions for 2001-2011

Personal income growth slowed in 2012 in most of the nation’s 381 metropolitan statistical areas (MSAs), according to estimates released today by the U.S. Bureau of Economic Analysis. Personal income growth slowed in 311 MSAs, accelerated in 65 MSAs, and remained unchanged in 5 MSAs. On average, MSA personal income rose 4.2 percent in 2012, after growing 6.0 percent in 2011. Personal income growth ranged from 12.1 percent in Midland, Texas to -1.6 percent in Yuma, Arizona, one of only five MSAs where personal income declined in 2012. Inflation, as measured by the national price index for personal consumption expenditures, slowed to 1.8 percent in 2012 from 2.4 percent in 2011.

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Retail Numbers Up in October

The U.S. Census Bureau said retail and food services sales increased 3.9 percent compared with the previous October.

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California has Nation’s Second Highest Job Distress Rate

By the U-6 measure, California’s employment distress rate is 18.3 percent for the 12 months ending June 30, according to a new report by the Bureau of Labor Statistics. California’s rate is second only to Nevada’s 19 percent and four percentage points higher than the national rate of 14.3 percent.

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The Research Supplemental Poverty Measure: 2012

The SPM extends the official poverty measure by taking account of many of the government programs designed to assist low-income families and individuals that are not included in the current official poverty measure.

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Personal Income and Outlays, September 2013

Personal income increased $67.4 billion, or 0.5 percent, and disposable personal income (DPI) increased $64.8 billion, or 0.5 percent, in September, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $24.7 billion, or 0.2 percent. In August, personal income increased $65.6 billion, or 0.5 percent, DPI increased $66.3 billion, or 0.5 percent, and PCE increased $39.8 billion, or 0.3 percent, based on revised estimates.

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California Students Among Worst Performers on National Assessment of Reading and Math

California students performed about the same in reading and math on this year’s National Assessment of Educational Progress as they did in 2011, ranking among the 10 lowest performing states in the country.

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Gross Domestic Product, 3rd Quarter 2013 (Advance Estimate)

Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 2.8 percent in the third quarter of 2013 (that is, from the second quarter to the third quarter), according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.5 percent.

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Gross Domestic Product, 3rd Quarter 2013 (Advance Estimate)

Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 2.8 percent in the third quarter of 2013 (that is, from the second quarter to the third quarter), according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.5 percent.

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US Third-Quarter GDP Rose 2.8%

Stronger economic growth in the third quarter masked weak spending by consumers and businesses, the latest sign of a U.S. economy struggling to gain traction as the recovery entered its fifth year.

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California Jobless Claims Drop by 4,400

The number of people filing new jobless claims across the country dropped by 9,000 to 336,000, according to a weekly report from the U.S. Department of Labor. California saw a large drop in new claims.

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California, Nevada Show Highest Poverty Rates

California and Nevada are among the U.S. states with the highest poverty rates, according to new data that takes into account more cost of living measures, the Phoenix Business Journal reports.

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Supplemental Measure of Poverty Remains Unchanged

The nation’s poverty rate was 16.0 percent in 2012, unchanged from 2011, according to the supplemental poverty measure released today by the U.S. Census Bureau. The 2012 rate was higher than the official measure of 15.0 percent. The official poverty rate in 2012 was also not significantly different from the corresponding rate in 2011.

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Supplemental Measure of Poverty Remains Unchanged

The nation’s poverty rate was 16.0 percent in 2012, unchanged from 2011, according to the supplemental poverty measure released today by the U.S. Census Bureau. The 2012 rate was higher than the official measure of 15.0 percent. The official poverty rate in 2012 was also not significantly different from the corresponding rate in 2011.

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Factories Shurg Off Shutdown

U.S. factories notched their fifth straight month of expansion in October, bucking expectations that the federal government’s 16-day shutdown would chill activity.

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Jobless Claims in US Drop as California Clears Backlog

Jobless claims decreased by 10,000 to 340,000 in the week ended Oct. 26 from 350,000 the prior period, the Labor Department reported today in Washington. The median forecast of 49 economists surveyed by Bloomberg called for a decrease to 338,000. California said no claims last week represented applications from prior weeks, a Labor Department spokesman said as the figures were released to the press.

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