News

Trade statistics in June again were buffeted by tariff policy shifts. Nationally, the goods and services trade deficit fell 16.0% as exports eased more slowly (-0.5%) than imports (-3.7%).

In the latest report from California New Car Dealers Association (CNCDA), zero emission vehicle (ZEV) registrations posted a decline for the third quarter in a row.

The Center for Jobs and the Economy has released our full analysis of the May Employment Report from the California Employment Development Department. For additional information and data about the California economy visit www.centerforjobs.org/ca.

In the preliminary numbers, seasonally adjusted nonfarm jobs fell 6,100 in June, the 4th month to date in 2025 posting a loss. The May numbers were adjusted down by 6,000 to a revised gain of 11,700, with California showing a net loss of 23,700 nonfarm jobs in the first half of the year.

California’s energy cost rankings showed little change in the most recent data except for some easing for average residential electricity bills as California managed to fall $3-10 below Arizona, West Virginia, and Rhode Island.

The trade statistics in May once again reflect more shifts in policy around tariffs rather than economic fundamentals. Nationally, the trade deficit rose over the previous month as exports slowed more than imports, but imports remained well below recent months due to the steep variations in pre-tariff surges.

The Center for Jobs and the Economy has released our full analysis of the May Employment Report from the California Employment Development Department. For additional information and data about the California economy visit www.centerforjobs.org/ca.

After three months of losses and the 54,800 downgrade in December coming from the annual revision process, California posted a 17,700 nonfarm jobs gain in April. The 11,600 preliminary loss in March was revised to a loss of 6,800.

California’s energy cost rankings showed little change in the most recent data except for some easing for average residential electricity bills as California managed to fall $3-10 below Arizona, West Virginia, and Rhode Island.

Overall, the national trade deficit declined substantially, with goods and services exports up $8.3 billion from March and imports dropping after the recent goods surges by $68.4 billion. These results, however, indicate much of the goods movement in recent months reflects acceleration of shipments that otherwise would have occurred in April and the upcoming months.

As detailed in our preliminary analysis of the February economic data, signs are pointing to continued weakness in the state economy

In January, the California average residential electricity bill (12-month moving average) kept moving up into 6th place among the contiguous states and DC, putting us just barely behind Texas. Electricity rates across all three primary end users as well as the cost of fuels remained the highest in the contiguous states and DC.

After three months of losses and the 54,800 downgrade in December coming from the annual revision process, California posted a 17,700 nonfarm jobs gain in April. The 11,600 preliminary loss in March was revised to a loss of 6,800.

Trade flows in the first two months of 2025 were heavily affected by two factors: accelerated inventory shipments in an effort to stay ahead of the recently imposed tariffs and the annual shifts due to the Chinese New Year holiday in China, which this year straddled both January and February. Total trade through the state’s ports in the first two months was up 14.9% from the same period in 2024 in nominal terms, and up 12.7% in real terms. Both measures represent a new high in trade activity.

As detailed in our preliminary analysis of the February economic data, signs are pointing to continued weakness in the state economy