California’s finances are bouncing back after a lengthy recession, and tax revenues are primed for strong growth over the next several years, according to a report issued Wednesday by the Legislature’s budget analyst.
California’s budget is on track for multibillion dollar surpluses in the coming years, the Legislature’s nonpartisan fiscal analyst said Wednesday in an upbeat assessment of the state’s fiscal picture.
Despite headwinds and unnecessary shocks created by the political discord in Washington DC, the U.S. economy managed to bounce back for 2 plus percent GDP growth in the second and third quarter of 2013.
The purpose of this report is to provide information on 31 key health care occupations in California. The occupations are those with one or more of the following criteria: expected strong growth, anticipated high demand due to employees leaving the health care workforce, and occupations in demand due to the needs of underserved communities.
California will experience faster economic growth in 2014 and 2015, according to the latest projection from the Business Forecasting Center at the University of the Pacific. The Center forecasts real gross state product will grow 3.3% in 2014, and accelerate to 3.9% in 2015 as the housing recovery begins to fuel new construction and job growth. The nearly 4% growth rate in 2015 will be the highest California has experienced since 2005.
Citing the healthier housing market, improved state budget situation and the prospect of a new downtown NBA arena, UOP economist Jeff Michael said Thursday that Sacramento’s job market will pick up steam in 2014 and 2015.
California’s economy is in for more of the steady, unspectacular growth the state has experienced the past few years, according to a new forecast. The latest UCLA Anderson Forecast, released today , says California can expected a continued fall in unemployment in the coming years, with the Sacramento region and the rest of the Central Valley still lagging the more prosperous coastal regions. Overall, the state continues to outperform the national economy, with job growth of 2.8 percent over the past 12 months, and the gap between the U.S. and California unemployment rates has been cut in half to 1.4 percent.
Economists at the UCLA Anderson Forecast said Thursday that the pace of job growth has slowed in the Golden State, raising fears that structural problems in the labor market will temper future employment gains. UCLA economists said in their quarterly forecast that a large proportion of California workers’ education and training is obsolete for jobs in technology and other industries that require “21st century” skills.
The economic recovery in the Bay Area and California is gaining steam, analysts said Thursday, yet the pace of job growth is being hampered by new technologies that enable employers to limit hiring. Economists with the closely watched UCLA Anderson Forecast say the Bay Area is leading the economic rebound in California, and that California is leading the nation. But the upswing is uneven. “This is a bifurcated recovery,” said Anderson Forecast senior economist Jerry Nickelsburg.
Nearly 180 California hotels changed hands in the first half of 2013, a 12% increase from the number sold in same period last year, according to a mid-year report by Irvine consulting firm Atlas Hospitality Group.
During the downturn, new home construction plummeted along with jobs and personal incomes. Today, a major forecast for the Sacramento region suggests these measures of economic health are poised to rise together over the next four years.
The tectonic plates of the world economy are shifting, moving the yield on the 10-year Treasury to the highest level in more than a year and shaking financial markets from Tokyo to Mumbai and Johannesburg to São Paulo.
Presentation from March 2011 Economic Outlook Conference