Building Permits Update: May 2019 [EconTax Blog]

Jul 2, 2019 - Similarly, single family housing permits declined 11 percent in May relative to a year ago. Through the first five months of 2019, single family permits are down 11 percent compared to 2018. Weak multifamily permitting in May was not confined to a particular region of the state.
https://lao.ca.gov/LAOEconTax/Article/Detail/382

Assessing Recent Changes to California Competes [Publication Details]

Mar 30, 2020 - Next, we describe the effects of these changes on the program in 2018‑19, the first year of their implementation. We then assess how the changes have affected the administration of the California Competes program and consider whether it is more or less effective than before.
https://lao.ca.gov/Publications/Detail/4213

The 2021-22 Budget: CalAIM: Equity Considerations

Mar 12, 2021 - All that said, the evaluations only cover the expiring pilot program ’s earliest years of implementation. Positive impacts directly related to program implementation could take longer to arise. The forthcoming evaluations should cover the impacts of the latter years of implementation and, therefore, fundamentally could change our understanding of the impacts of these programs.
https://lao.ca.gov/Publications/Report/4402

How California's Economy Evolved Over the Last Business Cycle [EconTax Blog]

Jan 7, 2021 - The high-growth subsectors were already overrepresented in California in 2007, and they then outperformed the sa me subsectors in other states over the next 12+ years, which drove the strong growth of the state ’s aggregate information sector.
https://lao.ca.gov/LAOEconTax/Article/Detail/604

LAO May Outlook: Home Prices [EconTax Blog]

May 12, 2019 - Home price growth started slowing in the spring of 2018, declining from almost 9 percent annual growth (current month compared to the same month a year prior) in March 2018 to 5 percent by the end of 2018 and further to 3 percent in March 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/369

Building Permits Update: June 2019 [EconTax Blog]

Aug 6, 2019 - Multifamily permits have been notably weak in recent months, falling below prior year by 44 percent in May and 51 percent in June. Overall, multifamily permitting is down 24 percent through the first half of 2019 as compared to 2018.
https://lao.ca.gov/LAOEconTax/Article/Detail/389

U.S. Retail Sales: April 2020 [EconTax Blog]

May 18, 2020 - To put these changes in context, the figure below displays the last 13 years of monthly retail sales. The one-month and twelve-month changes in April were the biggest since the federal government started publishing these data in 1992.
https://lao.ca.gov/LAOEconTax/Article/Detail/466

State Correctional Spending Increased Despite Significant Population Reductions

Feb 4, 2020 - This made CDCR’s budget artificially low in these years and resulted in greater spending in future years. One significant example of this type of action was the furloughing of correctional officers.Between 2008‑09 and 2012‑13, many state workers—including CDCR correctional officers—were given increased leave time in exchange for reduced pay, known as “furloughs.”
https://lao.ca.gov/Publications/Report/4145

The 2020-21 Budget: Re-Envisioning Medi-Cal—The CalAIM Proposal

Feb 28, 2020 - (Because of the complexity of the rate ‑setting process, it typically takes two to three years for year ‑over ‑year changes in plan costs to be reflected in their capitated rates.) Since the state pays Medi ‑Cal managed care plans largely on the basis of their costs, any growth in managed care plans ’ ILOS costs would ultimately be borne by the state.
https://lao.ca.gov/Publications/Report/4185

The 2020-21 Budget: Proposition 2 Debt Payment Proposals [Publication Details]

Mar 10, 2020 - The Governor offers one strategy to prioritize these funds over the next few years. Notably, the Governor focuses on the state’s share of the unfunded liability for teachers’ pensions. While we agree this focus makes sense, the amounts the Governor proposes dedicating to this purpose are not connected to the specific actuarial needs of the teachers’ pension system.
https://lao.ca.gov/Publications/Detail/4196