Below are the monthly updates from the most current February 2022 fuel price data (GasBuddy.com) and December 2021 electricity and natural gas price data (US Energy Information Administration). The release of the December 2021 utility rate data provides a moment to assess the effect of the state’s energy policies on the ceaseless rise in the […]
In nominal terms, California origin exports exceeded the pre-pandemic 2019 levels for the 4th month in a row. In real terms, however, the numbers continue to show a decline.
Below are the monthly updates from the most current January 2022 fuel price data (GasBuddy.com) and November 2021 electricity and natural gas price data (US Energy Information Administration). The results continue to reflect elevated oil and gas prices, as demand fueled by the recovery has outpaced the restoration of supplies affected by pandemic shutdowns and […]
Highlights for policy makers:
COVID-19 and the State Economy
GDP Drops in Most Regions
CaliFormer Businesses: Update
Employment 868k Below Pre-Covid Level
Labor Force Participation Rate
Nonfarm Jobs: 826k Below Pre-Covid Level
Jobs Change by Industry
Employment Recovery by Region
Unemployment Rates by Legislative Districts
Unemployment Rates by Region
MSAs with the Worst Unemployment Rates
Combined with a somewhat higher revision to last week’s preliminary number, initial claims in California remained largely stable over the past three weeks while dropping sharply in the rest of the country.
The Center for Jobs and the Economy has released our initial analysis of the December Employment Report from the California Employment Development Department. The December job and employment numbers were mixed. Nonfarm jobs (seasonally adjusted) were up 50,700, the lowest monthly total in 2021 since the loss posted at the beginning in January. California’s performance […]
Initial claims continued to rise in California while dropping sharply in the rest of the country. California claims were up 9.9%, while claims in the other states dropped by just under a quarter.
Reflecting seasonal factors but likely the effects of the Omicron variant as well, initial claims for the week of January 8 continued rising at a greater rate. Initial claims in California rose 25.5%.
The July trade figures in general continue to show a degree of recovery when compared to the 2019 pre-pandemic levels, but only regaining ground rather than moving forward. On an annualized basis, import flows were up 3.1% annually from 2019 in nominal terms, and export flows up 3.3%. In real terms, both were essentially unchanged.
Below are the monthly updates from the most current December 2021 fuel price data (GasBuddy.com) and October 2021 electricity and natural gas price data (US Energy Information Administration). With the sole exception of a minor (1 to 2 cents vs. 6 to 10 cents in the other states) easing in fuels, energy costs continued […]
Initial claims for the week of January 1 rose slightly compared to the prior week but were down overall by about 10% compared to the first three weeks of December. Initial claims in California rose 4.1%.
Highlights for policy makers:
COVID-19 and the State Economy
GDP Drops in Most Regions
CaliFormer Businesses: Update
Employment 868k Below Pre-Covid Level
Labor Force Participation Rate
Nonfarm Jobs: 826k Below Pre-Covid Level
Jobs Change by Industry
Employment Recovery by Region
Unemployment Rates by Legislative Districts
Unemployment Rates by Region
MSAs with the Worst Unemployment Rates
The latest new vehicle data from California New Car Dealers Association shows total new light vehicle registrations in the third quarter were down 19.6% from the same period in the prior year, an improvement over the 48.9% drop in the second quarter but still lagging well behind the overall national decline of 8.4%. In addition to the associated jobs impacts, new vehicle sales are also a critical component of state and local revenues, with Motor Vehicle and Parts Dealers (NAICS 441) producing 12% of total taxable sales in 2019.
Initial claims for the week of December 11 continued rising but at a slower rate in the state while declining elsewhere in the nation.
The July trade figures in general continue to show a degree of recovery when compared to the 2019 pre-pandemic levels, but only regaining ground rather than moving forward. On an annualized basis, import flows were up 3.1% annually from 2019 in nominal terms, and export flows up 3.3%. In real terms, both were essentially unchanged.