New Census figures released show rising income inequality across the state and millions of California residents who are struggling to get by on extremely low incomes, while higher-income households experienced more income growth. Even as the latest figures also show there is a decline in the official poverty rate in California, these findings underscore the need for policymakers to ensure that the benefits of California’s strong economy and recent economic growth are shared among all Californians.
Resource Category: Economics (CA)
Latino Economic Well-Being in CA
In this report, we provide an up-to-date overview of the current economic conditions for Latinos, focused on the four key relating factors of income distribution, education, housing, and entrepreneurship. The report establishes a baseline of data that can be used to measure Latino economic progress over time. We also introduce the Latino Economic Index (LEI) that provides a visual data snapshot of Latino economic well-being at the regional and community level in California. With this index, we explore geographic hot spots of opportunity and identify areas that call for the most urgent investment and policy outcomes.
2019 California Economy Facts
California’s economy in 2018 ranks as the fifth largest in the world – larger than the UK, India, France, Brazil, Italy, Canada, Korea, and Russia.
California 2019 Small Biz Profile
Overall California Economy• In the third quarter of 2018, California grew at an annual rate of 3.5%, which was faster than the overall US growth rate of 3.4%. California’s 2017 growth rate of 3.0% was down from the 2016 rate of 3.1%. (Source: BEA)• In February 2019, the unemployment rate was 4.2%, down from 4.3% in February 2018. This was above the February 2019 national unemployment rate of 3.8%. (Source: CPS)
2019 Roadmap to Shared Prosperity
The 2018 Roadmap to Shared Prosperity outlines the California Economic Summit’s plans for a comprehensive agenda to address with a triple bottom line approach to solving the state’s biggest challenges.
California Feudalism & The Middle Class
California Feudalism: The Squeeze on The Middle Class Chapman University, Center for Demographics and Policy First published October 2018 California was built by people with aspirations, many of them lacking cultural polish or elite educations, but dedicated to hard work, innovation, family, and community. A large number came from other countries or poor backgrounds: sharecroppers
The Real Cost Measure in California 2018
The United Ways of California released “Struggling to Stay Afloat: The Real Cost Measure in California 2018,” a new statewide report on financial challenges for working families.
California Small Business Profile
The Small Business Profiles are an annual portrait of each state’s small businesses. They gather the latest federal data into state-by-state snapshots of small business health and economic activity. Limited economic data is also provided for the U.S. territories.
Economic Impact of Immigration By State
In light of recent developments in U.S. immigration policy, WalletHub compared the economic impact of foreign-born populations on the 50 states and the District of Columbia. We determined which states benefit the most — and least — from immigration using 19 key indicators. Our dataset ranges from median household income of foreign-born population to jobs generated by immigrant-owned businesses as a share of total jobs.
Small Business Owners Struggle For Credit
The California Reinvestment Coalition released Small Business Owners Struggle to Access Affordable Credit, a new report focused on the challenges small business owners and entrepreneurs face when trying to get a loan to start, maintain, or grow their businesses.