COVID-19 and the Labor Market: Who Are California's Frontline and Remote Workers? [EconTax Blog]

Dec 8, 2020 - Latino Workers Make Up Disproportionate Share of State ’s Frontline Workforce. As shown in the figure below, while Latino workers make up only 38  percent of the state ’s workforce, half of the state ’s frontline workers are Latino.
https://lao.ca.gov/LAOEconTax/article/Detail/593

COVID-19 and the Labor Market: Who Are California's Frontline and Remote Workers? [EconTax Blog]

Dec 8, 2020 - Latino Workers Make Up Disproportionate Share of State ’s Frontline Workforce. As shown in the figure below, while Latino workers make up only 38  percent of the state ’s workforce, half of the state ’s frontline workers are Latino.
https://lao.ca.gov/LAOEconTax/Article/Detail/593

The 2021-22 Budget: CalWORKs Fiscal Outlook

Dec 8, 2020 - We have talked to several of these offices throughout the state, and we understand that they have made extraordinary effo rts to ensure CalWORKs remains accessible even during public health lockdowns.
https://lao.ca.gov/Publications/Report/4306

Building Permits Update: October 2020 [EconTax Blog]

Dec 7, 2020 - Single family activity has rebounded strongly since the pandemic-driven spring slump, as prices have been rising in most of the state ’s metropolitan areas. In contrast, the multifamily housing permit total of 2,339 was the lowest monthly total since January 2017, the lowest October total since 2011, and the third straight month that was at least 30 percent below the same month in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/592

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

Dec 4, 2020 - Over the last several months, the state has experienced abrupt and dramatic swings in economic activity. While a variety of data is available to track developments in the state economy, drawing clear conclusions from these disparate data points can be difficult.
https://lao.ca.gov/LAOEconTax/Article/Detail/589

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

Dec 4, 2020 - Based on the preliminary results, the state will receive an estimated $587 million in revenue from the auction. As shown in Figure 1, this amount is somewhat more than what the state received from the August 2020 auction ($474 million).
https://lao.ca.gov/LAOEconTax/Article/Detail/588

With New Deficits Looming, California Will Weigh its Options for Allocating a Large Revenue Windfall

Dec 1, 2020 - The first recognizes that replenishing reserves, repaying internal borrowing, and restoring supplemental pension payments —which together represent the lion ’s share of the state ’s budget resilience —all are one-time resource commitments.
https://lao.ca.gov/Publications/Report/4305

Cannabis Tax Revenue Update [EconTax Blog]

Nov 30, 2020 - The state levies two excise taxes on cannabis: a retail excise tax and a cultivation tax. First Quarter of 2020-21: $201 Million. The administration currently estimates that retail excise tax revenue was $160 million and cultivation tax revenue was $41 million in the first quarter of fiscal year 2020-21 (July through September). 2019-20 Total Revised Upward to $522 Million.
https://lao.ca.gov/LAOEconTax/Article/Detail/583

October 2020 Jobs Report [EconTax Blog]

Nov 21, 2020 - The figure below shows how employment has evolved in both the state and the nation since the start of the pandemic. Overall employment in the state as of the middle of  October  was 8.4 percent below the level of February, somewhat worse than the national figure of 6.6 percent.
https://lao.ca.gov/LAOEconTax/Article/Detail/585

Income Tax Withholding Tracker: November 16 - November 20 [EconTax Blog]

Nov 20, 2020 - Nonetheless, given the pace and severity of the shift in the state ’s economy resulting from the COVID-19 pandemic, tracking weekly withholding is worthwhile as a way to assess the state ’s evolving economic situation.
https://lao.ca.gov/LAOEconTax/Article/Detail/584