California’s economy could use some holiday cheer. Yes, like the nation, the state avoided a recession in 2023 despite numerous challenges, including a Federal Reserve throttling business opportunities with high interest rates to chill a nasty bout of inflation. In fact, the state economy’s 3.4% growth, as measured by Gross Domestic Product for 2023’s first … Read more
By Levi Sumagaysay and Shreya Agrawal | CalMatters Californians in two industries are set to get new minimum wages just for them next year, and that could lead to pay bumps for other workers, too. Gov. Gavin Newsom this year signed two union-backed bills that will boost fast-food and health care workers’ minimum wages. California-based … Read more
Nurses, medical assistants, ER techs and others at four Prime Healthcare hospitals launched their second strike of the year Wednesday, Dec. 20, claiming severe understaffing and high turnover have undermined patient care. The 1,800 workers represented by SEIU-United Healthcare Workers West also say Prime management has tried to prevent them from participating in union activities. … Read more
Southern California lost 37,149 residents in the past year, a drop one-third of what was seen in the previous two years. The six-county region had 21.7 million residents, according to the state Department of Finance tally as of July 1. The past year’s population decline was 68% less than the average 115,187 yearly loss in … Read more
Five weeks after a Missouri jury issued a $1.78 billion judgment finding that Realtors charge anticompetitive commission rates, a “copycat” lawsuit has been filed in the Bay Area making similar claims. A Marin County home seller filed the antitrust complaint in federal court this month seeking unspecified damages from the National Association of Realtors, several … Read more
I often forget the sheer size of the Southern California economy. My trusty spreadsheet — filled with the federal government’s annual accounting of gross domestic product by county — says the six-county region produced $1.57 trillion worth of goods in services in 2022. Now 13-digit numbers are hard to fathom. So let’s add some perspective … Read more
James L. Doti, Chapman University President Emeritus and Professor of Economics, speaks during the 2023 Economic and Business Review, an economic forecast for Orange County, California and the U.S., at Chapman University on Thursday, June 22, 2023 in Orange. (Photo by Mark Rightmire, Orange County Register/SCNG) Chapman University economist James Doti expected a dour 2023: … Read more
The Beverly Hilton, Costa Mesa Hilton, Anahiem Hilton and Waldorf Astoria in Beverly Hills are the latest hotels to reach tentative labor agreements with Unite Here Local 11 as a five-month strike involving 15,000 Southland hotel workers drags on. The agreements reached over the weekend place the Hilton alongside the Biltmore Los Angeles, Westin Bonaventure … Read more
If you’re having trouble finding affordable car insurance, you’re not alone. Drivers across California say they’re having to wait longer than usual to get coverage — and when they finally find an insurer and a plan, they’re having to pay their premiums up front. “Something is definitely not right,” said Willis Lai, a 36-year-old driver … Read more
On Jan. 1, 2024, a new federal law comes into effect, requiring more than 30 million small and medium-sized businesses to report ownership information to the federal government. The law is far-reaching and may affect you in unexpected ways. Failure to timely file the report could result in fines of $500 per day, up to … Read more
