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 Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - In this way, our approach represents a hedge; estimated revenues are not as low as they would be in an outright downturn, nor are they as high as is possible if there is no downturn. This differs from the approach taken by the Governor.
https://lao.ca.gov/Publications/Report/5104

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - Other downturns, such as the 2001 so-called dot-com recession, had severe fiscal implications while inflicting somewhat milder economic damage. The 2008 Great Recession had brutal effects on both the state ’s economy and budget.
https://lao.ca.gov/Publications/Report/4762

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

Flexible Funding to California in the American Rescue Plan

Mar 23, 2021 - Flexible Funding to California in the American Rescue Plan Flexible Funding to California in the American Rescue Plan Total Funding Amounts $26  Billion in Fiscal Relief Funding to the State. The American Rescue Plan (ARP) included $350  billion in funding to state and local governments for fiscal recovery.
https://lao.ca.gov/Publications/Report/4407

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - To be eligible for a grant, a business must either (1)  commit to creating at least 500 new jobs, (2)  invest at least $10  million in a major construction or renovation project, or (3)  be located in a high-poverty or high-unemployment area of the state.
https://lao.ca.gov/Publications/Report/4452

Overview of American Rescue Plan: Implications for California [Publication Details]

Mar 18, 2021 - Overview of American Rescue Plan: Implications for California [Publication Details] 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/Publications/Detail/4405

The 2019-20 May Revision: Sales Tax Exemptions for Diapers and Menstrual Products

May 12, 2019 - For example, a 2010 Pew survey estimated that 86  percent of Americans regarded cars as necessities. We are not aware of any proposals to exempt cars from the sales tax. Broad Product Categories Can Include Both Necessities and Luxuries.
https://lao.ca.gov/Publications/Report/4040

Cal Facts: 2016

Dec 5, 2016 - For example, among low-income students, four-year graduation rates are 69  percent for African Americans, 77  percent for Hispanic/Latinos, 78  percent for Whites, and 89  percent for Asians. State Subsidizes Child Care and Preschool 2016-17 (Dollars in Millions)
https://lao.ca.gov/Publications/Report/3511/2