California New Business Creation: November 2020 December 10, 2020
New business creation remained well above historical norms in November, despite slowing a bit relative to recent months.
2020-21 Fiscal Outlook: Recent Job Losses Concentrated Among Childless Workers, Dampening Caseload Growth December 8, 2020
In this post, we look at one unforeseen labor market shift that has important implications for the state’s fiscal picture: compared to past recessions, a larger share of workers who have lost jobs during the pandemic do not have children.
COVID-19 and the Labor Market: Which Workers Have Been Hardest Hit by the Pandemic? December 8, 2020
The California labor market collapsed in late March and early April due to the coronavirus disease 2019 (COVID-19) pandemic. In response to COVID-19, state and local officials took steps to limit the spread of the disease. The Governor issued a statewide stay-at-home order on March 19. Since that time, public health officials have issued various directives limiting daily activities. These efforts, as well as health concerns, depressed economic activity across the state. As a result, many employers cut jobs. In this post, we take a closer look at how the pandemic has affected different industries and different types of workers in California.
COVID-19 and the Labor Market: Who Are California's Frontline and Remote Workers? December 8, 2020
The coronavirus disease 2019 (COVID-19) pandemic has upended the way many Californians work. As we described in the first post in this series, many workers have lost their jobs due to the pandemic and job losses have disproportionately affected women, younger workers, less educated workers, and Latino workers. Other workers have had to change the way they work, either by taking extra precautions in how they interact with customers and colleagues or by temporarily working from home instead of the office or job site. In this post, we take a closer look at this group: people whose jobs entail frequent person-to-person contact (frontline workers) and those who likely have been able to work from home (remote workers).
Building Permits Update: October 2020 December 7, 2020
California recorded about 8,000 housing permits in October, with single units accounting for more than 70 percent of the total.
Snapshot of the California Economy: October 2020 December 4, 2020
Economic data suggest the state’s economy showed promising improvement in October, but this one-month uptick should be viewed with some caution.
November 2020 Cap-and-Trade Auction Update December 4, 2020
We discuss the results of the November 2020 cap-and-trade auction.
Cannabis Tax Revenue Update November 30, 2020
Preliminary summer data and revised spring data show very strong growth in cannabis tax revenue.
Home Sales Update: October 2020 November 24, 2020
California home sales have rebounded strongly from spring slump.
Income Tax Withholding Tracker: November 16 - November 20 November 20, 2020
Income tax withholding this week kept pace with the same week in 2019, and collections since late March are 3.5 percent above 2019.
2021-22 Fiscal Outlook Economic Assumptions November 18, 2020
We discuss the economic assumptions underlying the main forecat in our 2021-22 Fiscal Outlook.
2021-22 Fiscal Outlook Revenue Estimates November 18, 2020
We discuss the main revenue forecast in our 2021-21 Fiscal Outlook.
U.S. Retail Sales Update: October 2020 November 17, 2020
U.S. retail sales grew modestly in October. Total sales January-October 2020 were just 0.1% below January-October 2019.
Income Tax Withholding Tracker: November 9 - November 13 November 13, 2020
Income tax withholding again ran ahead of last year's pace, and is up 3.6 percent from last year since late March.