The L.A. metro area was ranked as the nation’s most congested region with motorists spending an average of 81 hours sitting still on the road in 2015. . . The study also identified the top 10 worst stretches of roadway across the globe. Four of them are in L.A.
More top corporate leaders said they expect to cut employment at their firms in the next six months than add jobs, according to the Business Roundtable’s first-quarter CEO Economic Outlook Survey, released Tuesday. The group’s members are chief executives at the country’s largest firms.
The proposed California Business Incentives Gateway site would allow employers to submit company details as filtering criteria to receive a list of applicable incentives.
The jobless rate declined or held steady in all but nine states in the 12 months through January, the Labor Department said Monday. Nationally, the rate fell eight-tenths of a percentage point to 4.9% over the year. Of the states that saw their unemployment rates increase, most are closely tied economically to energy production.
California has a lot to crow about. In the last four years the state has accelerated to become one of the fastest growing in the nation, according to the latest quarterly report from the California Chamber of Commerce Economic Advisory Council.
The State of California added 29,200 private sector jobs during the month of February
But in places from Music City to the Chicago suburbs to the California coast, wages are growing much faster. Weekly wages grew 4% or better in 44 of the 342 U.S. counties with at least 75,000 jobs, according to Labor Department data released Wednesday. Meanwhile, wages fell from a year earlier in 21 counties, including Midland, Texas, and Union, N.J.
“Not In My Back Yard” is a phrase that’s been used quite often in California over the last 30 years, usually as a precursor to challenge, block, delay or kill construction projects across the state. And NIMBY activists’ bludgeoning tool of choice is the California Environmental Quality Act. Like NIMBY, it’s better known by its acronym: CEQA. . . “It (CEQA) has been abused in this state for 30 years by people who use it when it has nothing to do with an environmental reason,” said Carol Galante, faculty director of the Terner Center for Housing Innovation at UC Berkeley, and a former assistant secretary of the U.S. Department of Housing and Urban Development.
The Index of the Massachusetts Innovation Economy, published annually since 1997, is the premier fact-based benchmark for measuring the performance of the Massachusetts knowledge economy.
Economic Report of the President and Annual Reprot of the Council of Economic Advisors.
California’s current housing market suffers from a shortage of supply and the lingering effects of the housing crash and the Great Recession. California currently ranks near the bottom in terms of its supply of housing relative to population growth. Add that to the increasing demand to live near the coast, to be close to tech hubs, and to be near downtowns, and it’s not too surprising that home prices throughout the state continue to rise. Additionally, the cost of development and stringent regulations imposed on developers has contributed to the lack of homebuilding in California.
In recent years, California has experienced negative domestic migration, meaning more people are moving from California to other states than the number of residents moving to California from other parts of the country. Statistics on the characteristics of California’s inbound and outbound migrants suggest patterns in migration over the past decade are more related to housing costs than tax structure.
The Employment Development Department said Friday the statewide unemployment rate dropped two-tenths of a percentage point. However, non-farm payroll jobs, considered one of the key barometers of economic health, declined by 1,500 compared with December.
The trade gap expanded 2.2% from the prior month to a seasonally adjusted $45.68 billion, the Commerce Department said Friday. That was wider than the deficit of $44.0 billion expected by economists The Wall Street Journal surveyed.
The report finds that many new jobs in California are in low-wage industries, and the post-recession period favored low-wage job growth over middle-wage and high-wage job growth throughout the state by a wide margin. However, when compared with the rest of the nation, the trend of low-wage job creation is not unique to California.