10/17/2021

News

Trade Gap Widens as Overseas Headwinds Gather

A stronger dollar and international turmoil are weighing on overseas consumers, meaning trade is unlikely to provide much support to the U.S expansion this year.

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California Trade Report

The state’s exports of goods to foreign markets in totaled $14.13 billion in the latest numbers, down 0.7% from the $14.23 billion recorded in May 2014. By way of comparison, total U.S. exports of goods saw a 7.2% decline in the same period, while exports from Texas shrank by a full 12.0%.

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The Real Value of $100 in Each State

This week’s map shows the real value of $100 in each state. Prices for the same goods are often much cheaper in states like Missouri or Ohio than they are in states like New York or California. As a result, the same amount of cash can buy you comparatively more in a low-price state than in a high-price state.

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Why Is California Gasoline So Expensive?

Gasoline sold in California costs more than in the rest of the U.S. — sometimes dramatically so. That’s because the Golden State’s market is isolated from outside fuel suppliers that might moderate prices. The fuel market here is an economic island, and occasionally circumstances combine to make California’s gasoline even pricier than on the actual island of Hawaii.

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Just How Stagnant Are Wages, Anyway?

The point is not that everything in the U.S. labor market is hunky-dory. But Mr. Rose’s research has two key takeaways: First, not all workers are doing as badly as is often presumed. Second, if one agrees with the Fed’s position that the PCE price index is the best inflation measure to use, then workers haven’t done nearly so bad.

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Income Inequality in the San Francisco Bay Area

The extent of income inequality in any region such as the Bay Area is a result of local, state and national policies, and is exacerbated by economic factors such as technological progress and globalization. And, while local policies alone are largely inadequate to address the issue of extreme inequality, there are a variety of options that can ameliorate the effects. This report includes data on Bay Area income inequality, comparisons to the state and nation, a discussion of the root causes of inequality, and a set of local policy options.

Research & Studies
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The Stimulative Effect of Redistribution

Policymakers often consider temporarily redistributing income from rich to poor households to stimulate the economy. This is based in part on the idea that poor households spend a larger share of their income than rich ones do. However, ample evidence suggests that the difference in spending between these groups is significantly smaller than commonly assumed. A second assumption is that redistribution through policy is more efficient than through capital markets. Whether this is true is important to consider when proposing this type of stimulus policy.

Research & Studies
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Opps. California Doesn’t Have the World’s 7th Largest Economy After All

Just last month, new figures from the U.S. Bureau of Economic Analysis appeared to reaffirm the state’s seventh place standing. But on Wednesday, revised estimates from the World Bank showed that Brazil had in fact ticked upward and pushed closer to the front of the line.

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Why June’s Job Numbers Are Disappointing, Despite Lower Unemployment Rate

“Small businesses took a breather from hiring last month after a string of five solid, positive months,” said NFIB Chief Economist William Dunkelberg. “Growth in the first few months of the year was lousy and big firms are beginning to show signs of wear and tear, layoffs are being announced and profits are fading.”

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The June Jobs Report in 10 Charts

The slight pullback in hiring during the first quarter from its exceedingly strong pace late last year dropped the 12-month pace of job gains to 2.94 million, a solid number but nevertheless the lowest annual figure since November.

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Jobs at a Crossroads: Hiring Up, Pay Flat

The U.S. job market sits at a crossroads six years into a fitful economic expansion: Hiring is strong, but weak wage growth has failed to pull millions of would-be workers off the sidelines while prompting others to drop out of the labor force.

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June Jobs Report

U.S. employers added 223,000 jobs in June, while the unemployment rate fell to 5.3% from May’s 5.5%, the Labor Department said Thursday. Economists surveyed by The Wall Street Journal had forecast a gain of 233,000 jobs and an unemployment rate of 5.4%.

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We’re No. 8: California Near Top of World’s Largest Economies

The latest figures for 2014 from the World Bank show that Brazil claimed seventh place with a gross domestic product of $2.346 trillion. California’s gross state product, which is comparable to GDP, was $2.312 trillion, according to a report released last month by the U.S. Bureau of Economic Analysis.

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Major Growth in Assessment Rolls Reported Throughout the State

Assessors from California’s 58 counties began reporting their assessment rolls – showing the value of all real property and business personal property in their counties as of the January 1, 2015, lien date – and selected counties that have released their rolls so far have reported major growth.

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California Property Tax Values Increasing

California’s county tax assessors are reporting sharp increases in valuations that will generate billions of new dollars for local governments and schools, according to the California Taxpayers Association.

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