California's Economy and Taxes

New business creation slowed in July, but still remained above the typical level for the month.

California builders recorded 10,685 housing permits in June, a so-so number for what is typically the biggest month of the year.

The California home price surge continues to accelerate: up 2.8 percent in June and 18.7 percent over 12 months.

California homes continue to sell briskly, with monthly sales breaking 40,000 in June.

Income tax withholding from July 1 to July 23 was 17.8 percent above the same dates in 2020.

California employers added an estimated 73,500 jobs in June, the smallest increase since January.

U.S. retail sales (seasonally adjusted) grew 0.6 percent from May to June. Retail sales remain elevated due to dramatic growth in January and March.

Californians continue to found new businesses at an above average pace.

New IRS data show that the state had higher net losses of income tax filers during 2017-2019 than the prior five years.

California recorded 9,291 housing permits in May, well below the totals of March and April.

California personal income rose 9.3 percent in the first quarter, mostly reflecting federal stimulus payments.

California income tax withholding continues to surge, as June collections to date are nearly 25 percent above last June.

California home sales remained high in May, but unusually declined from April.

The home price surge heated up even further in May. California home prices are up 15.4 percent since last May, national prices 13.2 percent.

California employers added 104,500 net jobs in May, the fourth straight month over 100,000.