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California economy and unemployment show improvement

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Economic indicators from the Department of Finance for California measuring the state’s economy include employment (agricultural/non-agricultural, civilian/non-civilian), job growth, building activity/construction, real-estate (residential/nonresidential), unemployment, manufacturing, auto sales, trade, business permits and much more.

The June 2013 economic data for California highlight data processing, hosting and related services at a 6.9 percent increase to 21.8 million (classified under high technology industries), goods producing industries such as Construction at a 5.5 percent increase to 616.5 million, Leisure and Hospitality at 4.4 percent increase to 1,671.6 million (classified under Service Providing Industries) from June 2012 economic data.

The economic outlook for California for 2014 from the Governor’s Budget Summary for 2014-2015 show projected estimates for high technology to remain steady at 2.3 percent from a 2.3 percent annual estimate for 2013, construction to remain at 4.3 percent from 2013 annual estimates, and a 11.5 percent increase for leisure and hospitality from 11.3 percent from 2013 annual estimates. Personal income for the state of California show a projected increase of 1,896 billion from 1,813 billion based on 2013 estimates. A revised budget summary is expected mid-May 2014.

Current unemployment rate for the State of California is 8.4 percent as of March 2014 from 9.4 in March 2013. The current unemployment rates for the City of Glendale for March is 7.6 percent from 8.6 percent in March 2013 and 9.7 percent for the city of Los Angeles from 11.0 percent in March 2013 (all percentages not seasonally adjusted.)

GDP rates by state and metropolitan area will be released by June 11 and September 16 respectively.

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