In his State of the City address in April, Mayor Eric Garcetti highlighted Turf Terminators, saying the hundreds of jobs that the company created were “some of the thousands of new, green jobs that have bloomed since I became mayor.”
U.S. workers’ wages and benefits may be picking up faster than previously thought.
California refineries support 2.4 million jobs that depend on the petroleum-based products they produce but increasing regulatory demands are jeopardizing their ability to continue operations in the state, according to a report released this week.
The finance department opposes this year’s minimum wage bill because it would boost the state payroll by an estimated $1.2 billion once the wage reaches $13 in 2017. Finance officials also think the economic impact of a $13 minimum wage likely would be negative because it would slow the growth of employment.
California reported an increase in new claims of 2,930. The state attributed the change to layoffs in the service industry.
Brown, who called special sessions of the Legislature last month to focus attention on the issues, wants at least $1.3 billion annually to help fund Medi-Cal and home-care services. The administration estimates the annual funding shortfall for road repairs is even higher, at about $5.7 billion.
Productivity growth is central to a range of economic questions from the slowdown in middleclass incomes in recent decades to the outperformance of employment over output in the current recovery. Looking forward, productivity growth is essential to understanding how quickly wages can grow, how fast the economy can grow, and the magnitude—and potentially even the existence—of a long-term fiscal gap.
A new study finds Sacramento area home prices have gotten out-of-reach for people who earn the median income or less. The data from research firm RealtyTrac show it’s cheaper to rent in Sacramento County than to buy.
A study released Wednesday by real-estate tracker Trulia says it would take 18 years for a San Diego household of college-educated young professionals earning the median income to afford a median-priced home in the county.
California has the highest state-level sales tax rate at 7.5 percent. Five states tie for the second-highest statewide rate at 7 percent: Indiana, Mississippi, New Jersey, Rhode Island, and Tennessee.
A report released Wednesday from the Energy Information Administration details a “perfect storm” that shows the West Coast’s gasoline inventory fell by more than a million barrels last week while fuel imports into the region dropped to zero for the first time since March.
Revenue growth expectations fell from 5.4% last quarter to 3.1% this quarter, and earnings growth expectations fell from 10.6% to 6.5%. Both metrics now sit at their lowest levels in the five-year history of this survey (on a country basis, expectations for both Canada and the US are at their survey lows). . . Salaries/wages are expected to rise 2.9% over the next year, with Financial Services highest at 3.6% and all other industries 2% or above. Nearly two-thirds of CFOs cite rising pay for highly-skilled staff. Just under half expect gains at managerial-levels, and 44% expect gains for lower-skilled staff. The US is highest for all levels.
For the first time in more than a decade, overall crime is up in Los Angeles through the first six months of the year, rising by about 12%, according to a Times analysis..
The unexpected magnitude of the costs, coupled with the uncertainty about future economic impacts, demand greater evaluation of the costs that will be associated with any new climate change proposals (SB 350, SB 32, and the California Air Resources Board Scoping Plan). This is hardly a revolutionary approach – in fact, cost analysis is an approach the state should prioritize for all new policies – but proponents of new climate change proposals seem surprisingly blasé about their need.
Amid increasing economic turmoil in key overseas markets, California export trade edged down only 0.7 percent in May compared with the same month in 2014, according to an analysis of U.S. Commerce Department figures.