The Walt Disney Company recently announced it was cancelling a $1 billion office project that would have seen 2,000 jobs move from California to Florida. This project was previously included under the Califormers when it was announced in 2021.
The Center for Jobs and the Economy has released a special report that provides an analysis of the migration patterns of high earning Californians, with a focus on how this trend accelerated in 2021, as evidenced by the significant taxable income loss experienced by the state. For additional information and data about the California economy […]
The Center for Jobs and the Economy has released a special report that delves into a critical question: “Was California the 4th Largest Economy in the World in 2022?” This comprehensive report provides insights into California’s economic position, particularly in terms of its global ranking. For additional information and data about the California economy visit […]
While the recent budget projections by both Department of Finance and Legislative Analysts’ Office do not anticipate a recession in 2023, other sources expect at least a mild downturn especially in response to continued Federal Reserve rate actions to combat inflation. The effect on employment and the unemployment rate, however, is uncertain. Jobs growth in the state continues to be held back more by labor shortages, as indicated in the continuing high level of unfilled job openings, and in other industries such as trade more by infrastructure and comparative cost factors. Employment losses within one part of the economy consequently are just as likely to be offset by hiring in others at least in the near term. Even within tech, the high numbers of unfilled job openings in the affected industries suggest layoffs are just as likely to be met with hiring by other companies and creation of new startups, although not necessarily within this state.
While the recent budget projections by both Department of Finance and Legislative Analysts’ Office do not anticipate a recession in 2023, other sources expect at least a mild downturn especially in response to continued Federal Reserve rate actions to combat inflation. The effect on employment and the unemployment rate, however, is uncertain. Jobs growth in the state continues to be held back more by labor shortages, as indicated in the continuing high level of unfilled job openings, and in other industries such as trade more by infrastructure and comparative cost factors. Employment losses within one part of the economy consequently are just as likely to be offset by hiring in others at least in the near term. Even within tech, the high numbers of unfilled job openings in the affected industries suggest layoffs are just as likely to be met with hiring by other companies and creation of new startups, although not necessarily within this state.
Download Full Report Download Fact Sheet Fact Sheet As part of its ongoing mission to identify and analyze policies driving up the cost of living and impacting the state’s business climate, the Center for Jobs and the Economy is pleased to present this special report, authored by Jennifer Hernandez, attorney and expert in environmental law, […]
Economic Impacts of the Proposed City of Los Angeles Transfer Tax for Housing and Homelessness Download Full Report Download Fact Sheet Fact Sheet As part of its ongoing mission to identify and analyze policies driving up the cost of living and impacting the state’s business climate, the Center for Jobs and the Economy undertook an […]
The Impact of Initiative #19-0028A1 on Direct and Indirect Cost Increases for Consumers, Businesses and the California Workforce Download Executive Summary Download Full Report Download Fact Sheet Executive Summary As part of its ongoing mission to identify and analyze policies driving up the cost of living and impacting the state’s business climate, the Center […]
Download Executive Summary Download Full Report Executive Summary Despite being at the forefront of technological advances and innovation, California’s current policies related to teleworking have remained static. Prior to COVID-19, primarily the higher paid, highly educated Californians had the most access to the benefit of telecommuting. In an analysis of 2019 jobs data, 70 percent of […]
In their release of the 2016 Greenhouse Gas Emissions Inventory, California Air Resources Board (CARB)[1] points to early attainment of the 2020 reduction goal as an unqualified demonstration of the success of the state’s current climate change policies. A closer look at the numbers, however, indicates they are more the result of external factors. Furthermore, […]
This report analyzes the potential effects from recently adopted and currently proposed regulations having significant effects on the cost of new housing in California. Specifically, these regulations considered include proposals that would require all housing in California to be built while paying workers at prevailing wage levels along with Zero Net Energy requirements, increasing local requirements for affordable units, and offsets, VMT reduction, and other measures related to the state’s climate change policies. The analysis considers the effects on housing prices and rents, California employment and income, and related issues where increased housing prices will affect housing affordability, poverty, homelessness, overcrowding, and related issues in the state. The prevailing wage analysis is used to develop the core data and analytical base, while consideration of the other regulations
draws from related studies.
This report analyzes the potential effects from recently adopted and currently proposed regulations having significant effects on the cost of new housing in California. Specifically, these regulations considered include proposals that would require all housing in California to be built while paying workers at prevailing wage levels along with Zero Net Energy requirements, increasing local requirements for affordable units, and offsets, VMT reduction, and other measures related to the state’s climate change policies.
Recent analysis by LAO stated that after factoring in housing costs, total annual costs for attending Community College in California goes from the lowest to the 7th highest in the nation for students not living at home with their families. The following LAO conclusions were based on 2013-14 data. California housing prices have escalated rapidly since then.
The recent release of the 2014 American Community Survey data provides an opportunity to gauge how California commuters have responded to this shifting policy. The data clearly reflects that even with the well-documented and rapidly rising costs of the state’s traffic congestion and costs associated with the deteriorating condition of the state’s roads, California workers continue to rely on single occupant vehicles for the primary mode of commuting. Moreover, their reliance on this mode of travel continues to grow both in absolute and relative terms.
Summary Both California and the federal government have relied heavily on publicly and privately funded subsidies to incentivize development of alternative energies and related energy efficient products. As the state is now considering potentially major expansions of these programs, it is appropriate to consider whether this approach as applied in the past has been broadly distributed, or instead has in practice favored specific income groups or regions.