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The economy of the State of California is the largest in the United States, with a $3.987 trillion gross state product (GSP) as of 2024. [1] It is the largest sub-national economy in the world. If California were a nation it would rank in terms of nominal GDP as the world's fifth largest economy, behind Japan and ahead of India (3.937 trillion).
The California Association of Realtors predicts the median home price in the state will go up 6.2% next year to $860,300. This year’s average is $810,000, down 1.5% from 2022. The 2024 ...
The surge of migrants since 2021, including asylum seekers and others, has lifted the U.S. and California economies by filling otherwise vacant jobs. Why California's surge in immigration is ...
Newsom's office, citing the U.S. Bureau of Economic Analysis, said California is the 5th-largest economy in the world with a nominal GDP of nearly $3.9 trillion in 2023.
The McKinsey Global Institute estimates that California's housing shortage is costing the state $143 billion to $233 billion in lost economic output, primarily from consumption that's crowded out by high housing costs and lost construction activity. ^ ab"Table 12-13".
2008–2012 California budget crisis. Furlough at a California Department of Motor Vehicles office in 2009. The U.S. state of California had a budget crisis in which it faced a shortfall of at least $ 11.2 billion, [1] and projected to top $40 billion over the 2009–2010 fiscal years. [2]
California, though, should continue to have an unemployment rate higher than the national average, the forecast said. That rate averaged 4.2% last year and is expected to climb to 4.6% this year ...
The California Economic Strategy Panel uses employment and wage information reported by employers, along with these regions, for public policy-making, planning, and program administration. [1] Other agencies, specifically including the California Public Utilities Commission and the California Board of Registered Nursing , also provide reports ...
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