The Center for Jobs and the Economy has released our full analysis of the October Employment Report from the California Employment Development Department. For additional information and data about the California economy visit www.centerforjobs.org/ca.
Highlights for policy makers:
Recovery Progress
Job Openings Down 25% Since December
Labor Force Still Below Recovery
Unemployment Claims at Nearly a Quarter of US Total
May Revise Pulls UI Fund Repayments
California State Trust Fund Solvency Lowest Among the States
CaliFormer Businesses
May Revise: Projections Show a Reduced Surplus; Not a Deficit
Below are the monthly updates from the most current October 2023 fuel price data (GasBuddy.com) and August 2023 electricity and natural gas price data (US Energy Information Administration). To view additional data and analysis related to the California economy visit our website at www.centerforjobs.org/ca.
Overall trade levels were off compared to September 2022, although California’s total share of trade through US ports saw a pause in its decline (on a 12-month moving basis) for the first time since March 2021.
In promoting its policies, California is advocating that we need next generation regulations to cover virtually every aspect of the economy and personal lifestyle in order to achieve our climate change goals. Recent data from the US EPA shows otherwise; a different policy approach can work equally well. The other states are doing as well, […]
Highlights for policy makers:
Recovery Progress
Job Openings Down 25% Since December
Labor Force Still Below Recovery
Unemployment Claims at Nearly a Quarter of US Total
May Revise Pulls UI Fund Repayments
California State Trust Fund Solvency Lowest Among the States
CaliFormer Businesses
May Revise: Projections Show a Reduced Surplus; Not a Deficit
The average gasoline price rose 51 cents a gallon in California while dipping 4 cents in the rest of the US. In the most recent data from CSAA, the California average on October 5 was up another 19 cents, while the overall US average dropped 7 cents.
The August trade results show a weakening in trade activity, reflecting both the challenges to trade in the state along with overall softening in the global trade numbers.
The Center for Jobs and the Economy has released our full analysis of the August Employment Report from the California Employment Development Department. For additional information and data about the California economy visit www.centerforjobs.org/ca.
Highlights for policy makers:
Recovery Progress
Job Openings Down 25% Since December
Labor Force Still Below Recovery
Unemployment Claims at Nearly a Quarter of US Total
May Revise Pulls UI Fund Repayments
California State Trust Fund Solvency Lowest Among the States
CaliFormer Businesses
May Revise: Projections Show a Reduced Surplus; Not a Deficit
The Center for Jobs and the Economy is a nonprofit research organization that provides economic data and detailed analyses of policies affecting state, regional and local economies. As part of its mission, the Center helps quantify the cost-of-living crisis in the state and various regions. This report, Minimum Wage Increases Lead to Economic Uncertainty: A […]
Total trade through California ports has been down in every month so far this year compared to 2022 levels, and down in every month except March when compared to pre-pandemic 2019.
The additional costs under California policies, regulations, taxes, and fee add-ons continue their ceaseless attack on the costs of living and costs of doing business in California. Costs for energy continue to be the highest or near the highest among the contiguous states and DC across all energy sources.
As discussed in our preliminary report, the July again reported slowing in the state’s economy. The nonfarm job numbers broke the previous pattern since April 2022 of the first quarter reporting job gains above 60,000, followed by slower gains in the following two months. Comparing just the first month of each quarter in this period, the July number was 59% lower. The employment numbers reported a loss of 17,000, reversing much of the gain the prior two months and keeping total employment essentially unchanged since June 2022.