Weekly Unemployment Claims Update: August 16 - August 22 [EconTax Blog]

Aug 28, 2020 - Since the pandemic began in March, as shown in the figure below, the state has issued $71 billion in unemployment insurance benefits with nearly three-quarters of that amount from new federal programs.
https://lao.ca.gov/LAOEconTax/Article/Detail/534

Home Prices Update: July 2020 [EconTax Blog]

Aug 25, 2020 - In the longer term, chronically high housing costs have hurt the state ’s business climate and been a key reason California loses residents to other states on net in most years. July 2020 data suggest that home prices have continued to grow both in California and nationwide despite the pandemic and the recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/533

August 2020 Cap-and-Trade Auction Update [EconTax Blog]

Aug 25, 2020 - Based on the preliminary results, the state will receive an estimated $474 million in revenue from the auction. As shown in Figure 1, this amount is substantially more than what the state received from the May 2020 auction ($25 million), but less than prior auctions—each of which generated over $600 million.
https://lao.ca.gov/LAOEconTax/Article/Detail/532

Contributions to CalSTRS [EdBudget]

Aug 24, 2020 - The rates shown include the state's required contribution to the Supplemental Benefits Maintenance Account. c Does not include payments made by the state on districts' behalf. d Does not include state supplemental payments for paying down unfunded CalSTRS pension liabilities.
https://lao.ca.gov/Education/EdBudget/Details/438

Districts' Pension Contribution Rates and Amounts [EdBudget]

Aug 24, 2020 - Districts' Pension Contribution Rates and Amounts [EdBudget]     a Projected rates for 2021-22, 2022-23, and 2023-24 are based on actuarial assumptions and experience through June 30, 2019. Final rates for those years will vary based on actual actuarial experience (including actuarial losses in 2019-20) and other factors. b Contribution amounts are estimates based on creditable compensation.
https://lao.ca.gov/Education/EdBudget/Details/439

Changes to Districts' Contribution Rates [EdBudget]

Aug 24, 2020 - For 2019-20, 2020-21, and 2021-22, employers' rates are offset by contributions from the state on their behalf, resulting in lower effective contribution rates compared to actual rates received by the pension systems.
https://lao.ca.gov/Education/EdBudget/Details/437

State Payments Provided on Behalf of School and Community College Districts [EdBudget]

Aug 24, 2020 - State Payments Provided on Behalf of School and Community College Districts [EdBudget] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Education/EdBudget/Details/436

Overview of Employment Development Department Response to COVID-19 [Publication Details]

Aug 24, 2020 - Presented to: Assembly Budget Subcommittee No. 4 on State Administration Hon. Jim Cooper, Chair
https://lao.ca.gov/Publications/Detail/4265

July 2020 Jobs Report [EconTax Blog]

Aug 21, 2020 - Excluding this sector, the state accounted for 11.5 percent of July nationwide job growth, exactly in line with its share of total jobs in February.  
https://lao.ca.gov/LAOEconTax/Article/Detail/530

Snapshot of the California Economy: July 2020 [EconTax Blog]

Aug 21, 2020 - Key areas where the state ’s economy has seen some improvement are employment, new business creation, and consumer spending. Since April, the state has added back 750,000 jobs, about a quarter of its pandemic-related job losses.
https://lao.ca.gov/LAOEconTax/Article/Detail/529