06/27/2019

News

U.S. Industrial Production Rebounded In May

U.S. industrial production rose in May, a welcome sign of strength in the sector after a spate of weak readings this year. Industrial production, a measure of factory, mining and utility output, rose a seasonally adjusted 0.4% in May from the prior month, the Federal Reserve said Friday. Economists surveyed by The Wall Street Journal […]

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In California, A Blue Wave And Progressive Governor: So Why Are So Many Leftist Plans Going Under?

An unprecedented haul of tax dollars generated by a roaring economy. A governor who campaigned on a big-ticket policy agenda of long-time lefty favorites, including universal childcare and state-funded healthcare for all. A Legislature so thoroughly packed with Democrats it gives rise to a new term—”giga-majority.” Californians could be forgiven for expecting it all to […]

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California Passes $215 Billion Budget With New Spending For Families, Immigrants And Housing

California lawmakers passed a $214.8 billion budget deal Thursday, with new spending on schools, homelessness and health care for undocumented immigrants. The budget relies on a surplus to add billions to the state’s reserves funds, which will bring the state’s total so-called rainy day fund to $19 billion. It puts hundreds of millions of dollars […]

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Summary Of Economic Activity

Economic activity in the Twelfth District continued to expand at a moderate pace during the reporting period of midNovember through December. Conditions in the labor market remained tight, and wage growth was moderate. Price inflation was flat. Sales of retail goods expanded moderately, while activity in consumer and business services was solid. Conditions in the […]

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U.S. Added 75,000 Jobs In May As Hiring Slowed

Employers tapped the brakes on hiring in May, signaling companies are taking a more cautious approach at a time of cooling global growth and trade tensions and adding to other signs of a spring slowdown in the decadelong U.S. economic expansion. The economy added 75,000 jobs in May, marking the 104th straight month of gains, […]

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More Companies Exit Business-Bashing California For Business-Friendly States

If your business is in California and you’re wondering if companies continue to leave the state, the answer is, “Yes, and anecdotal evidence is that the numbers are growing.” Before I identify the latest companies to depart California – 24 of them, which I’ve learned about only within the last three months – consider the […]

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Trump’s Mexico Tariffs Could Have Huge Impact On California

If President Trump follows through on his plan to impose an escalating tariff on all imports from Mexico, the impact to California’s economy would be huge. California exports more goods to Mexico than from any other state, accounting for 17% of all the state’s exports, according to the California Chamber of Commerce. And the value […]

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California Is Cracking Down On The Gig Economy

California just took a major step in rewriting the rules of the gig economy. The state Assembly passed a bill Wednesday that would make it harder for companies to label workers as independent contractors instead of employees, a common practice that has allowed businesses to skirt state and federal labor laws. The bill will now […]

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U.S. Inflation Shows Signs Of Life In April

U.S. inflation picked up in April after a very weak start to the year, a development that could help to ease Federal Reserve officials’ recent concerns about tepid price pressures. The Fed’s preferred inflation gauge, the price index for personal-consumption expenditures, rose a seasonally adjusted 0.31% in April from March and 1.51% from a year […]

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One-Quarter Of Working Americans Have Zero Retirement Savings

Many American households remain financially fragile and uncertain about their retirement prospects despite a booming job market that is lifting wages, according to a Federal Reserve survey released Thursday. One-quarter of working individuals say they have no retirement savings at all, the survey said, and 44% worry that their saving isn’t on track. Among younger […]

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CalChamber-Backed Study Says Service Tax Would Disadvantage California Businesses

Aiming to short-circuit an idea that has long captured the imagination, if not yet the votes, of legislators, a study backed by California Chamber of Commerce has found that adopting a business service tax—i.e., a tax on lawyers, accountants and consultants—would hurt the economy and put the state at a competitive disadvantage. The 56-page report […]

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Why California’s Efforts To Limit Soda Keep Fizzling

Earlier this year, Democrats in the state Capitol introduced several measures intended to limit Californians’ consumption of soda, arguing that rotting teeth and rising diabetes presented a public health crisis demanding action akin to regulations on cigarettes. They proposed taxing soda, banning Big Gulps, prohibiting in-store discounts on soft drinks, banishing them from the front […]

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5 Takeaways From Newsom’s Revised Budget Plan

Buoyed by California’s strong economy, Gov. Gavin Newsom sent state lawmakers a revised budget on Thursday that boosts his already-hefty January proposal to $213.6 billion. Ka-ching! Public schools will reap most of the gains if the Democratic-controlled Legislature rolls with him. Newsom also upped his ante on the housing crisis with a proposed $1 billion […]

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Trump Tax Cut To Be Eroded Next Year By Inflation Switch

Last year’s big tax cut is about to start shrinking. The Internal Revenue Service on Thursday announced the tax code’s parameters for 2019, implementing a new method for making inflation adjustments that will result in higher tax payments—and government revenue—over time. The shift will cost Americans $133.5 billion over a decade, according to Congress’s Joint […]

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As Trump Rolls Back Student Loan Protections, An Obama-Era Watchdog Brings The fight To California

Seth Frotman was traveling from the East Coast to California recently when he had a realization: The amount of new student loan debt that borrowers in the Golden State had racked up over the past year was equal to all the student loan debt in the state of Maine. Frotman spent years dealing with the […]

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