California's Economic Growth VS. the US and the World (San Francisco: middle-class, real estate market)

[mongozx]

Here are some interesting articles about CA's Economic Growth.

Comparing California's economic growth to the US and the world

. . .Golden State saw growth last year that was actually better than the U.S. — 2 percent for Cali, versus 1.8 percent for the U.S. . .This is translating into an unemployment rate in California that, although high at 10.7, is falling faster than the national rate, which isn't going to drop very much if at all with GDP growth hovering around 2 percent.

True Cost – Analyzing our economy, government policy, and society through the lens of cost-benefit

. . . while California and Texas were once similar in per-capita GDP, the gap is now widening in California’s favor, not shrinking!

[oldtrader]

Lets get the real facts about California and Texas

In past 10 years

California Growth in higher skill jobs 0% Texas over 13%.

California Growth in mid skill jobs 2%, Texas almost 20%

Yes there have been some jobs created in both categories in California, but they were not moving in as fast as those that were leaving the state.

California has fallen way down on the education scale especially in the young to mid age level.



California is losing population in the domestic moving/change category due to middle and upper class fleeing the state, but has grown greatly in the international migration (COMING FROM OTHER COUNTRYS SUCH AS MEXICO) with poor people replacing the better off financial leaving the state.

The Export Business in California (People and Jobs) | Newgeography.com

[Think4Yourself]

A great fact filled post about how California's economy is outperforming most countries right now. I know our right wing friends won't like it, they never like facts, but it sure is nice to see articles filled with facts.

[415_s2k]

Originally Posted by Think4Yourself

A great fact filled post about how California's economy is outperforming most countries right now. I know our right wing friends won't like it, they never like facts, but it sure is nice to see articles filled with facts.

I don't understand the preoccupation with and desire to see California failing in every worthwhile metric... the anecdotal retorts about "the middle and upper classes fleeing" and "illegals taking their place" (as though a middle-class home in Pittsburg or a 3500 sq/ft place in Agoura Hills is going to be taken over by a bunch of gardeners who get paid $30/day and their twelve "anchor babies..."), the dismissal of any growth seen in CA as actually being a loss somehow...

Any growth for CA is a growth for the USA. Any growth for Texas, or Alaska, or Alabama, or any other state is also growth for the USA. I'd love to hear that any state in the US added a hundred thousand jobs tomorrow. It serves the greater good, and I was under the impression that this was by definition, a good thing.

Especially seeing as a lot of this hand-wringing comes from tax-obsessed, conservative, self-professed "patriots," you'd think that they would want to see America grow and would be happy to see tech jobs adding new positions as they return from Asia, the possibility of new manufacturing, increases in banking and commerce, and the provenance of startups and mom-and-pop businesses taking place here, instead of trying to discount it.

[mongozx]

Originally Posted by oldtrader

Lets get the real facts about California and Texas

In past 10 years

California Growth in higher skill jobs 0% Texas over 13%.

California Growth in mid skill jobs 2%, Texas almost 20%

Yes there have been some jobs created in both categories in California, but they were not moving in as fast as those that were leaving the state.

California has fallen way down on the education scale especially in the young to mid age level.

CA median household income is close to $59k and among the top 10 in the nation. TX is 25th.
http://en.wikipedia.org/wiki/List_of...usehold_income

In case you didn't read the articles posted above, CA, despite seeing the brunt of the recession, STILL has a larger growing GDP and GDP per capita than TX over the past decade. You simply can't compare California to other states including Texas. It is in its own league!

California is and always will be the innovation capital of the world. That is a FACT in every sense. The jobs that biotech, greentech, internet, computer tech, defense tech, space tech etc. along with almost half of the country's VC investment will continually produce high paying jobs well into the future.
https://www.pwcmoneytree.com/MTPubli...sp?page=region

California leads in manufacturing job openings - Handling Hard Times : The Orange County Register

Tech surge fueling another hiring boom - San Francisco Business Times

San Bernardino County, California. | Site Selection Online

California: California Recovery Strong, if Uneven: A sluggish real estate market keeps unemployment in double digits, but technology is helping to reverse the tide. | Site Selection Online

Originally Posted by oldtrader

California is losing population in the domestic moving/change category due to middle and upper class fleeing the state, but has grown greatly in the international migration (COMING FROM OTHER COUNTRYS SUCH AS MEXICO) with poor people replacing the better off financial leaving the state.

International immigration is a means to revitalize the economy. You are taking it the wrong way. And while there are huge numbers coming from Mexico and Central America there are also significant waves of Far East Asians, Southeast Asians, Sub-continent-Indian, Middle Easterners, Sub Saharan African, and White European immigrants replacing those looking for cheaper pastures with lower wages.

Remember this place called New York City? Give me your tired, your poor, Your huddled masses yearning to breathe free? It is by far the most diverse city in the nation and somehow manages to be the financial center of the universe. California is similar in that regard but on a larger scale.

MOD CUT

[ZhugeLiang]

Originally Posted by mongozx

In case you didn't read the articles posted above, CA, despite seeing the brunt of the recession, STILL has a larger growing GDP and GDP per capita than TX over the past decade. You simply can't compare California to other states including Texas. It is in its own league!

From my experience, people who tout GDP as a primary indicator of economic strength don't seem to understand what GDP actually is.

Yes we get it, CA is an economic powerhouse, but mostly due to the Silcon Valley tech heads who haven't cashed out yet and for our sakes, we'd better hope this never happens or we really will be Greece of the Pacific.

[18Montclair]

Originally Posted by oldtrader

Lets get the real facts about California and Texas

The fact is California is now creating more jobs than Texas.


California's Job Growth Outpaces Texas's - Businessweek

California has fallen way down on the education scale especially in the young to mid age level.

What a laugh. Texas has a delplorable drop out rate and most of the jobs being created there are low-skill and low-paying.

Please think of something else.

[hoffdano]

Originally Posted by 18Montclair

What a laugh. Texas has a delplorable drop out rate and most of the jobs being created there are low-skill and low-paying.

Do you actually know what the graduation rates are by state? Do you believe California's K-12 schools are something to brag about?

In 2007-2008 California's graduation rate was 71.2%. Texas' rate was 73.1%

Graduation Rates, by State and Race - NYTimes.com

A different report names 12 states, including Texas, as leaders in improving graduation rates. California is included in a list of laggards, whose 2009 graduation rates worse than they were in 2002.

Building a Grad Nation 2011-2012 Update | Everyone Graduates Center

California has lots of strengths. But K-12 schools and graduation or dropout rates are not one of them.

[18Montclair]

Originally Posted by hoffdano

Do you actually know what the graduation rates are by state? Do you believe California's K-12 schools are something to brag about?

But that's just it. I wasnt bragging about anything--it is oldtrader who decided to bring up the quality of California's public schools, as if public schools in Texas are something to write home about. FYI, they arent.

And btw, the drop out rate in Texas is still too high.

[Californiaguy2007]

California has it's problems just like everywhere else but honestly I don't see us becoming America's Greece which others have negatively put it,or becoming a Third World State.

Yeah we went through a recession but honestly in my opinion I think we fared pretty well despite what the doomsday sayers on here or in the media have said...Heck even if this state were laying Golden Eggs their will still be those that would say otherwise.

California has multiple strengths and advantages that keeps us chugging along despite rough times and once we are back on track we will leap forward and ahead.

I've said this many times before...Out of all the states i'm always optimistic when it comes to California