August 2022 Jobs Report September 20, 2022

California added 19,900 jobs in August, a notable slowdown from July's strong jobs report. 


U.S. Retail Sales Update: August 2022 September 15, 2022

U.S. retail sales (seasonally adjusted) grew 0.3% from July to August. 


Updated 2022-23 "Big Three" Revenue Outlook September 14, 2022

Based on the most recent revenue and economic data, we currently estimate that collections from the state’s “big three” taxes—personal income, sales, and corporation taxes—are more likely than not to fall below the Budget Act assumption of $210 billion in 2022-23. 


Unemployment Claims Tracker: August 2022 September 9, 2022

Initial UI claims climbed in August to about 50,000 new claims per week. At the same time, not seasonally adjusted claims declined. Overall, incoming UI data seem consistent with relatively strong job growth seen in recent months, despite some mixed signals between raw and seasonally adjusted data.


July 2022 Jobs Report August 22, 2022

California added 84,800 jobs in July, about twice the level of recent months. Job gains for June were revised upward as well, from 19k to 37k.


Income Tax Witholding Tracker: July 2022 August 5, 2022

California income tax withholding collections were $90 million (1 percent) lower in July compared to last year.


June 2022 Jobs Report July 25, 2022

California businesses added 19,900 jobs in June, about half as much as recent months and the slowest gain since last September.


U.S. Retail Sales Update: June 2022 July 18, 2022

The amount of money spent on retail purchases in the U.S. increased 1% from May to June, but real sales declined due to inflation.


Income Tax Withholding Tracker: June 2022 July 11, 2022

California income tax collections were down 2 percent in June relative to last year. 


U.S. Retail Sales Update: May 2022 June 15, 2022

U.S. retail sales (seasonally adjusted) declined 0.3 percent from April to May. Inflation-adjusted sales declined more.


U.S. Retail Sales Update: March 2022 April 18, 2022

U.S. retail sales (seasonally adjusted) grew 0.5 percent from February to March. 


California New Business Creation: February 2022 March 16, 2022

February 2022 business formation data shows that new business creation is retuning to long-term average levels after growing at a faster pace in late 2020 and throughout 2021. 


U.S. Retail Sales Update: February 2022 March 16, 2022

U.S. retail sales (seasonally adjusted) grew 0.3 percent from January to February. Retail sales have been elevated after growing dramatically in early 2021, but inflation has offset much of the past year’s apparent “growth.” 


2021-22 “Big Three” Revenue Outlook Update: February 2022 February 17, 2022

Based on the most recent revenue and economic data, we currently project that there is a very good chance that collections from the state’s “big three” taxes will exceed the Governor's Budget assumption of $185 billion in 2021-22 by at least several billion dollars. 


U.S. Retail Sales Update: January 2022 February 16, 2022

U.S. retail sales (seasonally adjusted) grew 3.8 percent from December to January. Retail sales have been elevated after growing dramatically in early 2021, but inflation has offset most of the past year’s apparent “growth.”