Both the nonfarm job and employment numbers showed positive gains in April, but at relatively modest levels. Nonfarm jobs rose by 5,200, and were not strong enough to even offset the 10,100 downward adjustment to the March gains.
The Center for Jobs and the Economy has issued a special report on California’s Q4 2023 GDP growth, which although rising, continues to lag behind the national average, signifying ongoing economic challenges for the state. Despite maintaining its position as the 5th largest economy, California faces revenue difficulties amidst sluggish growth and declining contributions from the tech industry.
Below are the monthly updates from the most current April 2024 fuel price data (GasBuddy.com) and February 2024 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.
Below are highlights from the recently released trade data from the US Census Bureau and US Bureau of Economic Analysis. To view additional data and analysis related to the California economy visit our website at www.centerforjobs.org/ca. Total trade through the state’s ports was up $2.2 billion (3.3%) in March compared to the same period a […]
With California now posting the highest unemployment rate in the nation, this report focuses specifically on unemployment data to provide crucial insights into the state of employment in California.
The March labor force data in general produced weak results for the state. Nonfarm jobs dipped by 3,400 over the month, while January’s strong preliminary numbers were revised down sharply from the initially reported 58,100 to 25,600, the lowest since last September and only 38% as high as the gain in January 2023.
Below are the monthly updates from the most current March 2024 fuel price data (GasBuddy.com) and January 2024 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.
Below are highlights from the recently released trade data from the US Census Bureau and US Bureau of Economic Analysis. To view additional data and analysis related to the California economy visit our website at www.centerforjobs.org/ca. The Baltimore bridge collapse is the latest event adding to global trade disruptions, coming on the heels of continued […]
The Center for Jobs and the Economy has issued a special report on California’s Q4 2023 GDP growth, which although rising, continues to lag behind the national average, signifying ongoing economic challenges for the state. Despite maintaining its position as the 5th largest economy, California faces revenue difficulties amidst sluggish growth and declining contributions from the tech industry.
With California now posting the highest unemployment rate in the nation, this report focuses specifically on unemployment data to provide crucial insights into the state of employment in California.
The March labor force data in general produced weak results for the state. Nonfarm jobs dipped by 3,400 over the month, while January’s strong preliminary numbers were revised down sharply from the initially reported 58,100 to 25,600, the lowest since last September and only 38% as high as the gain in January 2023.
The state’s tax system leans significantly on these few taxpayers. For instance, the amount of income tax Ohtani could save annually by changing his residence in 2033 is equivalent to the total tax liability of the bottom 1.78 million tax filers in 2021 (positive AGI). To use another illustration, finding just 317 more individuals like Ohtani (with no deferrals and MLB approval for the 12 required expansion teams) or doubling the taxes paid by the bottom 3.34 million tax filers could erase the state’s projected deficit for 2024-25.
The Center for Jobs and the Economy has released a special report that delves into the tax burden on personal income in California, particularly focusing on its impact on different family types. For additional information and data about the California economy visit www.centerforjobs.org/ca.
As discussed in our preliminary report, nonfarm jobs in January posted a 58,100 gain in the preliminary estimate. While stronger than prior months, January only regained a portion of the ground lost due to the 231,800 downward adjustment in December coming from the annual revision process.
Highlights for policy makers:
Recovery 232,000 Jobs Weaker than Previously Reported
California Labor Force
Nonfarm Jobs by Region
Counties with Double-Digit Unemployment
Unemployment Rate By Legislative District