Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
https://lao.ca.gov/Publications/Report/3769

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - The typical PE ratio since 1990 is 21 (19 if the dot-com bubble of the late 1990s and early 2000s is excluded). Similar to the price-to-earnings ratio, the home price-to-rent ratio is used to gauge if home prices are in line with underlying demand for housing.
https://lao.ca.gov/Publications/Report/3829

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - We then follow the steps described in Bollinger et al. (2019) and Machado and Mata (2005) to produce unconditional percentile estimates. The figures display the median value of the estimates across the various specifications.
https://lao.ca.gov/Publications/Report/4878/4

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - To address this, the 2021, 2022, and 2023 budget acts each provided one-time funding of $120  million for a grant program to supplement the tax credit. The Governor ’s budget proposals in 2024 and 2025 each included $60  million to fund the grant program but were not included in the final budget act due to projected deficits in those years.
https://lao.ca.gov/Publications/Report/5162

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - First, the budget act included a one ‑year $3.5  million increase in the appropriation for the Tobacco Licensing Program. Second, the Legislature passed and the Governor signed Chapter  269 (AB  573, Rogers).
https://lao.ca.gov/Publications/Report/5132

The 2017-18 Budget: An Overview of the Governor's Proposition 56 Proposals

Feb 22, 2017 - Though Superior Court decisions generally are not binding precedent, one California Superior Court decision ( Children and Families Commission of Fresno County et al. v. Edmund G. Brown, Jr., et  al ) considered issues concerning supplantation of funds related to Proposition  10 (1998), another voter ‑approved tobacco measure.
https://lao.ca.gov/Publications/Report/3573

Managing California’s Cash

Sep 3, 2019 - After a period of relative calm in the mid ‑ and late ‑1990s, California faced another series of years with acute budget problems following the dot ‑com bust and ensuing recession. Although the dot ‑com bust was relatively mild in economic terms, it hit the California budget —which is particularly reliant on the Bay Area ’s technology sector —especially hard.
https://lao.ca.gov/Publications/Report/4092

The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation

Feb 19, 2026 - Below, we discuss “Disclosure Requirements and Deferral of Property Taxation, ” a newly identified mandate since enactment of the 2025-26 Budget Act . Background New Requirements for Los Angeles County.
https://lao.ca.gov/Publications/Report/5130

The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation [Publication Details]

Feb 19, 2026 - In this post, we discuss “Disclosure Requirements and Deferral of Property Taxation,” a newly identified mandate since enactment of the 2025-26 Budget Act.
https://lao.ca.gov/Publications/Detail/5130

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - This is slightly below an estimate by Blau et al. (2023) for the U.S. over the last 40 years and substantially higher than an estimate by Clemens et al. (2019) for the U.S. over the period from 2013 to 2016.
https://lao.ca.gov/Publications/Report/4878/3