Income tax withholding this week kept pace with the same week in 2019, and collections since late March are 3.5 percent above 2019.
U.S. retail sales grew modestly in October. Total sales January-October 2020 were just 0.1% below January-October 2019.
Income tax withholding again ran ahead of last year's pace, and is up 3.6 percent from last year since late March.
Credit/debit card data suggest CA taxable sales continued to grow in October but still remained slightly below January.
Withholding this week was up 6 percent from the same week last year, pushing the cumulative gain since late March to 3.5 percent.
Creation of new businesses in California remained very strong in October.
California records nearly 10,000 housing permits in September, the highest monthly total to date this year.
California home prices are on the rise despite the pandemic.
Income tax withholding kept pace with the same week in 2019, and collections since March are up 3.4 percent from 2019.
California personal income surged in the 2nd quarter due to transfer payments, but other income categories dropped sharply.
We examine whether economic effects of COVID-19 can be observed in weekly withholding data.
After months of rapid rebound, the recovery of the state economy has been less pronounced recently.
Observations on this week's unemployment insurance claims data.
Credit/debit card data suggest California taxable sales continued to grow in September but still remained somewhat below January.
We examine whether economic effects of COVID-19 can be observed in weekly withholding data.