California Economy Inches Up in World Ranking

Jul 11, 2013

There’s new evidence that California’s economic outlook is improving. A new study shows the state is regaining its place as the world’s eighth-largest economy this year after falling to ninth during the recent downturn. 

Valley Public Radio

A new report that compares state finances finds California's budget revenues are soaring higher than all but one other state in the nation.  Its economy is growing at an above-average pace as well.  Ben Adler has more from Sacramento.

The study comes from the Tax Policy Center – a project of the Urban Institute and the Brookings Institution.  It compares state tax revenues, economic growth and other data for all 50 states.

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To the distinguished California Public High School Class of 2013.

I’m sorry James Franco canceled at the last minute. I’m even sorrier that you wound up getting me as your substitute commencement speaker, but I was offered gas money plus a free lunch.

Andrew Nixon / Capital Public Radio

California Governor Jerry Brown has released an updated budget proposal that includes more money for schools this year, and less overall spending next year. 

His spending plan for the fiscal year that starts in July includes about $1.3 billion less than his January proposal.  Brown says the state’s economic picture has weakened due to the federal sequester and the federal payroll tax change.

“We have climbed out of a hole with a Proposition 30 tax. That is good, but this is not the time to break out the champagne,” says Brown.

Joe Moore / Valley Public Radio

  A new study from the UCLA Center For Health Policy Research shows that teenagers who live near parks and open space areas are more physically active than those who don't. 

The study also shows that low income teens use parks less, citing safety concerns. Low income teens were also less likely to be active for at least one hour a day. 

Marianne Russ / Capital Public Radio

The city of Stockton has begun a four-day trial in U.S. Bankruptcy Court.  At stake: whether the city should be eligible for Chapter 9 bankruptcy protection.

The case has other local governments watching closely – particularly those that still face large budget deficits.  Chris McKenzie with the League of California Cities says he believes cities will “move heaven and earth” to avoid future bankruptcies.

Valley Public Radio

California now has one of the highest unemployment rates in the nation. As Amy Quinton reports from Sacramento, the latest figures from the California Employment Development Department show no improvement in the state’s jobless rate for January.

California’s unemployment rate remained at 9.8 percent in January. That ties the state with Rhode Island for the highest unemployment rate in the country. 

A new study finds women in California aren’t faring as well as men during the economic recovery.  The analysis was done by The California Budget Project and the Women’s Foundation of California.  

It finds employment among the state’s women declined by a little less than one percent over the past two years – while it was increased nearly two percent among men.

Chris Hoene with the Budget Project says cuts to programs such as CalWorks, the state’s welfare to work program, and cuts to state subsidized child care have largely affected women:

Andrew Nixon / Capital Public Radio

The California Army National Guard is deploying about 50 soldiers as part of Operation Enduring Freedom in Afghanistan.  

About a hundred medics, pilots and mechanics from California, Nevada, and Washington are flying out today. This is the third such deployment for Sylvester Wilson. He’s from Rancho Cordova, near Sacramento.

Ben Adler / Capital Public Radio

House Majority Whip Kevin McCarthy had plenty to say at the Sacramento Press Club Friday.

The California Congressman discussed everything from the federal budget cuts known as sequestration to the future of the Republican Party. Ben Adler has more from Sacramento.

McCarthy said President Obama was “creating hysteria” about the sequestration cuts – rather than working with Republicans:

“If we can’t find a way to cut $85 billion out of a $3.6 trillion deficit, we’re not gonna overcome our problems.”