California’s Unemployment Rate Remains at 12.4 Percent

SACRAMENTO – California’s unemployment rate was unchanged at 12.4 percent in September, and nonfarm payroll jobs decreased by 63,600 during the month, according to data released October 21 by the California Employment Development Department from two separate survey.

The U.S. unemployment rate also was unchanged in September at 9.6 percent. In August, the state’s nonfarm payroll jobs were revised upwards 44,200 for a total gain of 10,700 jobs, with the unemployment rate at 12.4 percent.    Read more »

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A Yardstick to Help Measure the State of the State’s Economy

California New Car Sales on a Slow But Steady Recovery

SACRAMENTO – The California New Car Dealers Association  announced that registrations of new cars and trucks in California continued to increase through the third quarter.

“Serious car buyers are returning to the market and fueling the California auto industry’s slow but steady recovery,” said Peter Welch, the association’s president.    Read more »

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This Just In — Legislative Analyst Still Tepid About the Budget

The Legislative Analyst’s assessment of the budget signed October 8 on the 100th day of the fiscal year for which dictates spending, has not changed in its updated summary of the budget for the fiscal year that began July 1.

This new version however includes the $963 million vetoed by Gov.    Read more »

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State’s September Receipts $1.1 Billion Above May Estimates

SACRAMENTO — Receipts for September were above the Governor’s May Revision estimates by $1.1 billion, or 15.3 percent, State Controller John Chiang reported October 11.

Corporate taxes were up $378.7 million — 46.1 percent — and sales taxes came in $60 million — 2.9 percent — above estimates. Personal income tax receipts were 22 percent above estimates, $732.9 million, although that increase is likely the result of accelerated payments caused by recent changes to the tax deadlines, rather than a sign of a significant upturn in the economy.    Read more »

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The Legislative Analyst on California’s New Budget — Hate it!

It’s official.

In the Legislative Analyst’s  initial eight-page summary of the budget approved by lawmakers in the early hours of the 100th day of the fiscal year it’s supposed to dictate spending for, the conclusion is that the package is unlikely to balance and certainly won’t improve the state’s chronic gap between spending commitments and revenue.    Read more »

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Vote Finally Pending on a Budget But Does it Really Balance?

On October 7, the 99th day of the fiscal year, lawmakers are finally expected to vote on a budget for the fiscal year that began July 1.

It is by far the latest delivery of a spending plan in California’s 160-year history. “(This budget) provides a way forward to protect the public structures of education, public safety, infrastructure and vital services, the special two-house legislative Budget Conference Committee said in an October 6 handout summarizing the proposal.    Read more »

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Getting Closer to Perhaps Beginning to Start to Pass a Budget

This is a modestly edited advisory from the state Senate:

Senator Denise Ducheny, a San Diego Democrat has announced that the special two-house Budget Conference Committee, which she chairs, will reconvene on Wednesday, October 6, at 1:30 p.m., in Room 4203, the Senate’s largest hearing room.

An agenda will be made available after 9 a.m.    Read more »

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September 28 Is The 90th Day of the Fiscal Year That Began July 1 — A Full Quarter Has Passed WIth No Budget In Sight

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A Budget Before the End of the Fiscal Year’s First Quarter?

“The Governor and Legislative leaders have reached the framework of an agreement, will work through the details over the weekend, and hope to come to a final agreement when they reconvene Monday.”

–Aaron McLear, Gov. Arnodl Schwarzenegger’s press secretary

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September 23 is the 85th day of the fiscal year that began July 1.    Read more »

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And If They Don’t Pass a Budget, Taunt Them A Second Time

State Schools Chief Jack O’Connell Urges State Legislature and Governor to Pass Budget Budget Impasse Forcing Some State Child Care Centers to Close

SACRAMENTO — State Superintendent of Public Instruction Jack O’Connell today reports that state-funded child care centers, already burdened by severe cutbacks over the past few years, are now bearing the brunt of the current state budget stalemate.    Read more »

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