Economy

Business & Economy
5:32 pm
Tue July 15, 2014

Drought Hurts Fresno County Crop Value, Dropping Behind Tulare County

For the first time, almonds topped grapes as Fresno County's number one crop in 2013.

A report released today shows that Fresno's agricultural industry has slipped out of its first-place standing in the state.  The 2013 Fresno County crop report shows that its total gross value of agricultural products last year was $6.4 billion, over $1.3 billion behind Tulare County--the first time since 2002 that Tulare swung to the top of the list.

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Drought
5:05 pm
Tue July 15, 2014

Drought Could Cost California Economy $2.2 Billion In 2014, Says Study

Managing groundwater reserves is key to the state surviving a long-term drought. Here, Senior Engineering Geologist Chris Bonds from the California Department of Water Resources monitors flow rate from a well.
Credit John Chacon / California Department of Water Resources

The California economy could lose $2.2 billion this year because of the drought. Max Pringle reports on a UC Davis study that shows the agriculture industry alone could lose $1.5 billion.

The study says California will have to make do with a third less water this year and that could lead to 430 thousand acres of fallow farmland. Former UC Davis Economist Richard Howitt says the pain won’t be spread evenly throughout the state.

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Business & Economy
2:19 pm
Tue June 24, 2014

Organizers Say Fresno Software Competition So Successful, It's No Longer Necessary

Downtown Fresno is just 163 miles from Mountain View, the heart of Silicon Valley and the home of tech giant Google, but in many ways it's a world away. But while the San Joaquin Valley may be known more for its produce than its programmers a local competition has been working for the past five years to change that.

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Business & Economy
6:28 pm
Tue May 20, 2014

Report: Drought Won't Hurt California Economy

Farm laborers work in a citrus grove near Fresno (file photo)
Credit Joe Moore / Valley Public Radio

California’s drought may have a lot of negative consequences, but a new report out today says the state’s economy won’t be one of them. Katie Orr reports from Sacramento.

The report from Moody’s Investors Service finds, short term, California’s economy won’t suffer as a result of the drought. It finds the state’s reliance on income taxes and sales taxes will largely provide a buffer. H.D. Palmer with the governor’s Department of Finance, agrees the state’s economy has weathered the drought so far. 

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Community
3:55 pm
Tue April 15, 2014

Creative Fresno Celebrates 10 Years

Creative Fresno has
Credit Courtesy Creative Fresno

Back in the mid 1980’s writer and urban planner Charles Landry was the first to describe how creativity and specifically those involved in creative professions could transform a city – something he called the Creative Cities movement.

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Government & Politics
6:47 pm
Wed November 20, 2013

After Years of Deficits, Budget Surpluses Projected for California

California's non-partisan Legislative Analyst, Mac Taylor, discusses the state's fiscal outlook at a news conference in Sacramento Wednesday.
Credit Ben Adler / Capital Public Radio

  California’s structural deficit is history – and the legislature’s non-partisan budget analyst is projecting growing surpluses for the next several years.  But as Ben Adler reports from Sacramento, the welcome budget news still comes with words of caution.

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Government & Politics
10:34 am
Fri September 13, 2013

Bill to Increase California's Minimum Wage Passes Legislature

Credit Valley Public Radio

  A bill that would gradually increase the California minimum wage to $10-an-hour has passed the State legislature and is on its way to the governor. It would be the first increase in the minimum wage in six years.

Democratic Senator Bill Monning says if you’re a Californian subsisting on the current state minimum wage, you’re living a second class existence.

"You are in a second hand economy, second harvest food bank, second-hand clothing, second-hand hand-me-down everything," says Monning.

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Government & Politics
6:24 pm
Wed September 11, 2013

Minimum Wage Deal at California Capitol

Credit Valley Public Radio

It looks like California’s minimum wage will go up next year for the first time since 2008.  Ben Adler reports from Sacramento on the deal announced today by Governor Jerry Brown and Democratic legislative leaders.

Under the deal, California’s $8-an-hour minimum wage would rise to $9 in July of next year, and then to $10 in January of 2016.  That’s a faster pace than the original bill that’s been moving through the legislature this year.  But it does not include automatic adjustments for inflation, as was previously proposed.

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Jobs
4:50 pm
Fri August 16, 2013

California Adds 38,000 Jobs in July

file photo
Credit Andrew Nixon / Capital Public Radio

The latest California employment numbers are out, and on the surface, July’s 38,000 job gain looks great.  But as Ben Adler reports from Sacramento, a troubling trend in today’s report calls that gain into question.

The 38,000 job increase is the state’s largest monthly gain this year.  It’s also nearly a quarter of the nation’s total job growth in July.  But citing a flawed seasonal adjustment in teacher jobs, the state is revising June’s 30,000 job gain down to 12,500, and May’s 17,000 increase down to 9,500.

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Business & Economy
12:42 pm
Tue August 6, 2013

'The Economist' Profiles the San Joaquin Valley's Struggling Economy

Credit The Economist

Three years ago, The Economist published an article that chronicled the toll the great recession had taken on the people and the economy of the San Joaquin Valley, calling the region the Appalachia of the West.

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Government & Politics
6:11 pm
Wed July 17, 2013

State to Lose Federal Jobless Benefits Next Month

Credit Valley Public Radio

California’s Employment Development Department says that come mid-August, an improving economy is expected to cost thousands of jobless workers the last 10 weeks of their federal unemployment benefits. Max Pringle reports from Sacramento.

California’s economic rebound means the federal government may soon cut-off assistance to the state’s long-term unemployed.

“We’re now nearing that point where we will no longer qualify for Tier 4 federal extension benefits," says  Loree Levy with the state’s Employment Development Department.

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Business & Economy
6:02 pm
Thu July 11, 2013

California Economy Inches Up in World Ranking

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. 

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Government & Politics
12:13 pm
Wed July 10, 2013

California Economy, State Finances Stronger than Other States

Credit 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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Government & Politics
3:51 pm
Thu May 30, 2013

Assembly Approves Minimum Wage Increase

Credit Valley Public Radio

California’s minimum wage would go up for the first time in six years under a bill passed by the state Assembly today. Ben Adler has more from Sacramento.

Democratic Assemblyman Luis Alejo’s measure would raise the minimum wage from $8 an hour to $9.25 over the next three years – with cost-of-living adjustments each year after that.

“It’s been six long years – six long years - since we’ve raised the minimum wage here in California.  It’s been locked in at $8 an hour, when we know the price of rent, of clothing, of food, has all gone up during that time,” says Alejo.

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Jobs
6:29 pm
Tue March 19, 2013

California Tied With Rhode Island For Highest Unemployment in Nation

Credit 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. 

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Business & Economy
4:59 pm
Tue March 19, 2013

Report: California Women Faring Worse than Men During Economic Recovery

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:

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Seniors
3:30 pm
Tue March 5, 2013

For Many Seniors Working Well Beyond 65 Is New Reality

Felipe Barraza of Visalia, Calif., is 68 and has no plans to retire. He says his children, of whom the youngest is 13, keep him young. If he ever retires he plans to travel the globe with his wife.
Credit Stephanie Barraza

The world for the retiree is evolving. For some retirement means a chance to globe-trot or travel across the country in an RV, but for many 65 is just another milestone, a reminder of poor financial decisions earlier in life or a chance to explore a second career.

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Business & Economy
8:29 am
Thu October 11, 2012

Foreclosure Process Speeds Up in California

file photo
Joe Moore Valley Public Radio

Banks are speeding up the home foreclosure process in California, according to data out today. But one analyst says the process may start to slow down again.

It took lenders an average of 335 days, or about 11 months to complete the foreclosure process on California properties in the third quarter.

Daren Blomquist with foreclosure listing service RealtyTrac says that was down three percent from the previous quarter and an eight percent drop from a year ago.

"These foreclosures, if they’re going to happen, it’s better that it’s more like a band-aid that you rip off."

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Government & Politics
12:24 pm
Mon September 10, 2012

Governor Jerry Brown On CNN: Country In Slow Recovery

California Governor Jerry Brown - file photo
Credit Amy Quinton / Capital Public Radio

California Governor Jerry Brown was on national TV over-the-weekend weighing-in on the presidential election.

He was among the guest line-ups for the Sunday TV news shows, appearing on CNN’s “State of the Union.”

Brown said President Obama has laid a foundation for economic recovery and job creation.

And he argued against Mitt Romney’s “supply-side” economic plan of lowering taxes on corporations to help spur job growth.

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Business & Economy
12:36 pm
Sat September 1, 2012

AAA: Labor Day Holiday Travel Up

Freeway traffic on Interstate 10 in Southern California (file photo)
Credit Michael R Perry / Licensed via Creative Commons via Flickr: http://www.flickr.com/photos/michaelrperry/6868181303/

The latest AAA forecast says a higher number of Californians will be traveling over this Labor Day holiday weekend.

According to the auto club, 3.7 million Californians will travel 50 miles or more.

“This is a modest increase of 3.4 percent over last year," said Cynthia Harris, who is with AAA Northern California. She says “modest” increases in travel numbers have been the norm over the past four years.

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