09/21/2021

News

California Jobs Report Far Worse Than It Looks

Don’t be fooled by the new California jobs report out Friday that shows statewide unemployment falling below six percent for the first time in nearly a decade. The state added almost no jobs last month – and 125,000 people stopped looking for work.

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Hi Rhonda – Foster Farms is a family-owned company with operations in California, Oregon, Washington and Louisiana. All Foster Farms poultry is grown, raised and processed in the United States.

Don’t be fooled by the new California jobs report out Friday that shows statewide unemployment falling below six percent for the first time in nearly a decade. The state added almost no jobs last month – and 125,000 people stopped looking for work.

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Lawmaker Wants Label On Food Made With ‘Fracking Water’

A California lawmaker has proposed a new label for food irrigated with what he calls “fracking water.”

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Brown’s Retiree Health Care Proposal Stalls

Gov. Jerry Brown’s January budget proposal called for an overhaul of California’s state worker retiree health care system. It faces more than $70 billion in long-term debt. Seven months later, nothing’s changed.

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California Ends Fiscal Year with Revenue Surge

The Department of Finance reports California exceeded revenue projections for the fiscal year by $732 million. Revenues were originally projected to be about $114 billion.

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California’s Rice Crop Predicted To Be 30 Percent Below Normal

Because of California’s historic drought, the state’s rice crop will be 30 percent below normal –- at 375,000 acres. Experts say the smaller planting will hurt the economy and wildlife that depend on shallow flooded fields. 

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California Revenues Strong in March

Nearly $500 million of that can be attributed to income taxes.  Corporate tax revenues came in $77 million above expectations. But sales taxes fell short, with revenues coming in nearly $100 million below projections.

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Port Labor Dispute Costing California

The labor dispute between West Coast ports and the longshormen’s union is having an effect on the California economy. Nick Vyas directs the Center for Global Supply Chain Management at the University of Southern California. He estimates California has lost between a half billion and a billion dollars since the port labor dispute began. And he says state leaders should take an active role in trying to end the dispute.

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California Faces Challenges to Repairing Infrastructure

In 2006 California voters approved about $40 billion in bonds to address infrastructure deficiencies. About $5 billion of that hasn’t been spent. Brown’s Department of Finance says about $1 billion will be included in this year’s budget.     

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California Manufacturing Equipment Sales Tax Takes Effect

A 4 percent sales tax credit on the sale of manufacturing and research and development equipment has gone into effect in California. The credit will last eight years. 

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California Prepares for Third Straight Dry Year

Last month DWR announced an initial water allocation of only five percent of requested deliveries from the state water project.

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California’s Online Sales Tax Generating Millions

California’s Internet sales tax has brought in more than 260 million dollars since it was implemented about a year ago.

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CEQA Changes Narrowed, Broader Effort Delayed (Again)

Democratic Senate Leader Darrell Steinberg is shelving most of his effort to streamline the California Environmental Quality Act, or CEQA, this year. The decision came late Wednesday night at the end of the second-to-last day of legislative session.

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Foreclosures Down In California, Up In Nevada

Foreclosure listing service RealtyTrac says “notices of default,” the first stage of the foreclosure process, went up by just over 3% from April to May. RealtyTrac’s Daren Blomquist says it was the fourth straight monthly increase. But Blomquist says it’s not a sign of any new problems in California’s housing market.

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The Fight Over CEQA Is On

What some see as California’s most important environmental law, others see as an economic impediment. The 43-year-old California Environmental Quality Act, or CEQA, guides almost every development project in the state.

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