California’s economy expected to outpace that of U.S. this year
California’s economy will grow faster this year than the national economy, and unemployment will drop to 5% in early 2017, according to a new report by the UCLA Anderson Forecast.
California’s economy will grow faster this year than the national economy, and unemployment will drop to 5% in early 2017, according to a new report by the UCLA Anderson Forecast.
In what could go down as one of the most honest moments in political history, Brown told reporters that raising the minimum wage was more about culture and politics than about economics.
Brown, traveling to the state’s largest media market to sign the landmark bill, remained hesitant about the economic effect of raising the minimum wage, saying, “Economically, minimum wages may not make sense.”
The state’s new minimum wage law, signed into law Monday by Gov. Jerry Brown, is expected to give a boost to Silicon Valley’s burgeoning robot and automation industry as businesses seek to replace increasingly expensive workers.
Posing an ongoing challenge for California educators trying to tackle a critical teacher shortage area, the number of credentials issued to new math and science teachers in California continues to decline, according to new figures released Monday by the California Commission on Teacher Credentialing.
Bowlin had joined a class-action lawsuit against the pharmacy chain, one of dozens filed in California during the last several years against corporations that required workers to stand. In a unanimous ruling Monday, the court clarified labor law in a way that is likely to make it more difficult for companies to deny workers a chair.
Anyone can hang out a shingle and purport to be a medical vendor or caregiver by sending a letter to the state – no proof required. Unscrupulous providers can run up tens of thousands of dollars in bills for meaningless drug tests, salves and medical equipment, knowing that injured workers never will lay eyes on the bill.
On March 27, solar farms had to shut down because they were producing more electricity than Californians needed. As renewable energy grows, the imbalance is becoming a growing state challenge, particularly on days when the sun is shining, but it is not hot enough for most people to run air conditioning.
Now there is a sense that California’s expansion, its ability to create new communities and industries – outside of a few fields, like media and software – faces insurmountable constraints on water and other resources. . . This mindset has been predominant over the past decade, as the state has invested little in new water storage or delivery systems, essentially doing nothing since the late 1970s, when the population was 16 million less. Like the Roman Empire in its dotage, we seem to have decided to live off the blessings of the past, a sure way, it seems, to guarantee a diminished future.
In a letter to Brown last week, the California Business Roundtable warned that any pause in minimum wage increases would lift just as the state began its recovery.
Assuming wages rise 2 percent per year across the board — a rough estimate, but faster than they have risen in recent years either nationally or in California — then in 2022, about 40 percent of California workers will be in “significantly affected” occupations and 30 percent will be in “highly affected” ones. (Both figures are fairly typical of the U.S. overall.) But as the table below shows, there is huge regional variation. In San Francisco and San Jose, only about 10 to 15 percent of workers are in highly affected occupations. In the San Joaquin Valley area of Visalia-Porterville, that figure is close to 50 percent.
The academic-dominated approach is not working, especially for economically disadvantaged students. Of this group, about 20 percent of teenagers don’t graduate from high school at all. Of those who do graduate, about half matriculate to some form of college. But many are not ready: two-thirds of low-income students at community colleges start in remedial classes. . . The common outcome of our current strategy—“bachelor’s degree or bust”—is that a young person drops out of college at age 20 with no post-secondary credential, no skills, and no work experience, but a fair amount of debt. That’s a terrible way to begin adult life, and it’s even worse if the young adult aims to escape poverty.
The fourth quarter’s slowdown was less severe than previously estimated but corporate profits fell, showing the economy entered 2016 on uneven footing.
Personal-income growth across the U.S. last year reflected broader economic trends, with construction and the service-sector propelling earnings, especially in the Southeast and along the West Coast. Crashing commodity prices, meanwhile, were a drag in states with big farming or energy sectors.
In 2015, there was approximately 4.4 million people in the CalFresh program, receiving more than $7 billion in benefits annually. That’s compared to 2005, when there were about 2 million Californians receiving more than $2 billion in annual benefits.