California's Economy and Taxes

Thumbnail for U.S. Retail Sales Update: April 2023

U.S. Retail Sales Update: April 2023 May 16, 2023

U.S. retail sales have dropped 0.9 percent over the last 3 months and grown 1.6 percent over the last 12 months.

Seth Kerstein

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U.S. Retail Sales Update: March 2023 April 14, 2023

U.S. retail sales have grown 1.9 percent over the last 3 months and 2.9 percent over the last 12 months. Sales have grown faster than inflation over the last 3 months but slower than inflation over the last 12.

Seth Kerstein

Thumbnail for Updated 2022-23 "Big Three" Revenue Outlook

Updated 2022-23 "Big Three" Revenue Outlook March 15, 2023

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 likely to fall below the Governor's Budget assumption of $200 billion in 2022-23.

Brian Uhler

Thumbnail for U.S. Retail Sales Update: December 2022

U.S. Retail Sales Update: December 2022 January 18, 2023

U.S. retail sales (seasonally adjusted) declined 1.1 percent from November to December. The two-month decline was 2.1 percent. In the last 30 years, two-month drops of at least 2 percent have happened around recessions.

Seth Kerstein

Thumbnail for U.S. Retail Sales Update: November 2022

U.S. Retail Sales Update: November 2022 December 15, 2022

U.S. retail sales (seasonally adjusted) declined 0.6 percent from October to November.

Seth Kerstein

Thumbnail for U.S. Retail Sales Update: October 2022

U.S. Retail Sales Update: October 2022 November 16, 2022

U.S. retail sales (seasonally adjusted) grew 1.3 percent from September to October.

Seth Kerstein

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.

Chas Alamo

May 2022 Jobs Report June 20, 2022

California businesses added 42,900 net jobs in May (seasonally adjusted), about the same as April and another month of slower job growth than seen in the past year.

Chas Alamo

April 2022 Jobs Report May 20, 2022

California employers added 41,400 net jobs in April (seasonally adjusted), the smallest net gain in the past six months.

Chas Alamo

March 2022 Jobs Report May 11, 2022

California employers added 60,200 jobs net jobs March (seasonally-adjusted), a 4.2 percent increase on an annual basis.

Chas Alamo

Thumbnail for California New Business Creation: February 2022

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.

Brian Weatherford

Thumbnail for U.S. Retail Sales Update: February 2022

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.”