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Read the latest news updates from the California Business Roundtable.

Statewide Business Community Supports Retail Theft Legislative Package as Part of Comprehensive Approach to Crisis

The statewide business community commends Governor Gavin Newsom and the California Legislature for the passage and signing of a series of bills designed to address the ongoing retail t...

03/12/2024
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Press Release

WEBINAR: Dissonance in Climate Disclosure: The SEC, EU, California, and ISSB Recording

The statewide business community commends Governor Gavin Newsom and the California Legislature for the passage and signing of a series of bills designed to address the ongoing retail theft crisis affecting businesses across the state.

Press Release

Partnership Between California and NVIDIA an Important Step Toward Creating Economic Opportunities for the Future

The diverse and broad-based California business community has issued the following statement today in response to the newly announced partnership between the State of California and NVIDIA

Press Release

Governor’s Executive Order on Encampments Important Step in Addressing Homelessness

Reports and Studies

California Trade Report for April 2024

Dominated by the surge in imports, total trade through the state’s ports rose $8.4 billion (13.3%) compared to April 2023. On a nominal basis, total trade through the state’s ports in the first 4 months of the year was 8.3% higher than the same period in 2023, and only $10 billion below the level reached in 2022.

Reports and Studies

California Energy Price Data for May 2024

In March, California continued its energy cost trifecta with the highest residential, commercial, and industrial electricity prices among the contiguous states. These rankings join the highest cost postings for gasoline and diesel as well.

Reports and Studies

May Revise Proposes to Weaken California’s Nation-Leading R&D Industry

The US Bureau of Economic Analysis recent release of a new series tracking the economic contributions of R&D activities in each of the states provides a timely data base to evaluate proposals in the May Revise related to business tax credits.

Reports and Studies

Full April 2024 Jobs Report

Most responses to the May Revise have appropriately focused on the revenue effects coming from the state’s extreme reliance on the tax returns of a relatively small number of high-income taxpayers.

Reports and Studies

Quick Facts: California Employment Report for April 2024

Both the nonfarm job and employment numbers showed positive gains in April, but at relatively modest levels. Nonfarm jobs rose by 5,200, and were not strong enough to even offset the 10,100 downward adjustment to the March gains.

Special Report: Economic Importance of Trade & the Ports to Southern California: Phase I Report: Baseline Economic & Fiscal Impacts

The Ports of Long Beach (POLB) and Los Angeles (POLA) are the core of the largest trade complex in North America. More than 3 million jobs nationwide are supported by the two ports and nearly 230,000 jobs in the region.

Reports and Studies

California Energy Price Data for April 2024

Last month, the governor announced that the state’s energy policies had set new records whereby clean energy had exceeded grid demand at some point during 40 of the last 48 days. Left unsaid, however, is that clean energy is not always produced when it is needed.

Reports and Studies

California Trade Report for March 2024

Total trade through the state’s ports was up $2.2 billion (3.3%) in March compared to the same period a year ago, generating yet another rise (on a 12-month moving basis) in the state’s overall share of US trade to 15.75% compared to the low of 15.32% last August.

Reports and Studies

Full March 2024 Jobs Report

As discussed in our preliminary report last week, the March data again showed California with the highest unemployment rate among the states and DC and, at 5.3%, the highest in California since December 2021. In contrast, the current Department of Finance forecasts underlying the budget revenue and spending projections expected unemployment to be only 4.9% in the first quarter of 2024.

Reports and Studies

Quick Facts: California Employment Report for March 2024

The March data returned to reporting mixed results for the state’s economy. Nonfarm jobs rose 28,000 in the preliminary results for March, while the loss in February was revised 3,300 lower to 6,600. The preliminary average monthly gain for the first quarter of 2024 was 15,800, down sharply from the previous quarter’s average of 38,800 but better than the 5,200 average loss in the first quarter of 2023.

Reports and Studies

California Energy Price Data for March 2024

The state’s energy policies continued to push prices ever higher. In January on a 12-month moving average basis, residential electricity rates rose to the second highest among the contiguous states, while industrial rates rose to the highest.

Reports and Studies

California Trade Report for February 2024

The Baltimore bridge collapse is the latest event adding to global trade disruptions, coming on the heels of continued challenges to shipping through the Panama and Suez Canals, uncertainty in the global economic outlook, and the shift of extended contract negotiations to the Eastern ports.

Reports and Studies

Special Report: California Risks Slipping to 6th Largest Economy

In Q4 2023, US Bureau of Economic Analysis reports that California real GDP rose 3.1% on an annualized basis, below the US average of 3.4% and 29th highest among the states. For 2023 as a whole, California real GDP rose 2.1%, below the US average of 2.5% and 32nd highest among the states.

Reports and Studies

Full February 2024 Jobs Report

California’s unemployment rate reached 5.3% in February, the highest in the nation and the highest in California since December 2021. Total number of unemployed surpassed projections made for the budget by Department of Finance by 7%, adding further strain to a state budget already facing multi-year deficits due to high spending.

In Case You Missed It: Guest Opinion Piece Published in Los Angeles Daily News

A recent Los Angeles Times editorial completely misrepresented the root causes and attempted to cast blame in the wrong place. This is the same tactic the governor and Legislature have been using to try to displace the blame, but the facts speak for themselves.

Reports and Studies

Quick Facts: California Employment Report for February 2024

The February labor force data in general produced weak results for the state. Nonfarm jobs dipped by 3,400 over the month, while January’s strong preliminary numbers were revised down sharply from the initially reported 58,100 to 25,600, the lowest since last September and only 38% as high as the gain in January 2023.

Reports and Studies

Fact Check: What’s Behind California’s High Gas Prices?

The Los Angeles Times recently published an editorial allegedly to correct the record on information being disseminated by groups such as FactsPerGallon.com on the reasons why gasoline prices are so much higher in California. In what purports to be a fact check piece, the editorial is astonishingly fact-free in its arguments.

Reports and Studies

What WalletHub Got Wrong: State Taxes Rank

The extent to which this statement is true is often obfuscated by the approach taken in different comparisons that look at tax rates or only a select number of the many different taxes the state has chosen to impose. The results, however, are not so murky.

Press Release

California Business Roundtable Issues Statement on Passage of Proposition 1

The Roundtable looks forward to working to implement key elements of Prop. 1 as part of a larger solution.

Reports and Studies

Full January 2024 Jobs Report

As discussed in our preliminary report, nonfarm jobs in January posted a 58,100 gain in the preliminary estimate. While stronger than prior months, January only regained a portion of the ground lost due to the 231,800 downward adjustment in December coming from the annual revision process.

Reports and Studies

Quick Facts: California Employment Report for January 2024

On a data note, the annual data revision process continues with this release and will continue with the February numbers to be released in two weeks. In addition, with this report, we are resuming the employment and unemployment estimates by legislative district.

Reports and Studies

California Trade Report for January 2024

Trade levels in general showed improvement as the California ports continued to recover some of the market share lost during the uncertainty generated during the extended labor negotiations.

Reports and Studies

California Energy Price Data for February 2024

California’s average energy rankings showed continued deterioration in the residential sector, while fuels and commercial electricity rates remained the highest among the contiguous states and DC. With no relief in sight, California’s energy policies are taking the state’s economy into a government-driven experiment that runs counter to its previous experience with economic growth.

Reports and Studies

California Trade Report for December 2023

Overall trade flows were largely stable compared to December 2022. Total trade flows through the state’s ports were off by only 0.2% in nominal terms. For the year as a whole, the nominal value of the trade flows was down from 2022, but up slightly compared to 2021 and substantially compared to pre-pandemic 2019.

Press Release

Business Roundtable Announces Support for 2024 Ballot Measures

The Roundtable membership has voted to support several key measures on the 2024 ballot.

Reports and Studies

California Energy Price Data for January 2024

California’s energy costs rankings showed deterioration in two categories, while fuel and commercial electricity costs remained the highest among the contiguous states and DC.

Reports and Studies

Full December 2023 Jobs Report

As discussed in our preliminary report, nonfarm jobs rose 23,400 in December, bringing the preliminary job gains for all of 2023 to 311,600 (seasonally adjusted) and coming in 26% better than the average monthly jobs gain of 20,500 in pre-pandemic 2019.

Reports and Studies

Quick Facts: California Employment Report for December 2023

The Center for Jobs and the Economy has released our initial analysis of the December Employment Report from the California Employment Development Department. The additional information we generally address from the US Bureau of Labor Statistics will not be released until next Tuesday, at which time we will do a more complete analysis in our Full Jobs Report.

Press Release

Assemblymember Irwin and Committee’s Decision on the Wealth Tax Prioritizes Fiscal Stability for California

The California Business Roundtable extends sincere appreciation to Assemblymember Irwin, Chair of Assembly Revenue and Taxation, and the committee members for their prudent decision to hold Assembly Bill 259, the wealth tax proposal.

Reports and Studies

California Trade Report for November 2023

Compared to a year ago, the November trade numbers in general show improved activity through the state’s ports.

California Energy Price Data for December 2023

Overall, California’s energy price rankings had some minor improvements, but they remain at or near the highest among the contiguous states.

Reports and Studies

Special Report: California Strikes Out on Ohtani’s Blockbuster Dodger Deal

As part of its ongoing effort to report on significant economic trends in California, the Center for Jobs and the Economy is releasing this special report, which provides a detailed analysis of Shohei Ohtani’s decision to defer most of his annual salary of $70 million over 10 years.

Press Release

California Business Roundtable Endorses Proposition 1

SACRAMENTO, CA – The California Business Roundtable today announced it supports Proposition 1, Governor Newsom’s $6.38 billion bond measure to build 10,000 new community behavioral health beds and housing to provide care to Californians of all ages with serious mental health and substance use disorders.

Press Release

Business Roundtable Responds to Governor’s Announcement on Retail Theft

SACRAMENTO, CA — California Business Roundtable President Rob Lapsley issued the following response to Governor Newsom's announcement today on retail theft this holiday season:

Press Release

Center for Jobs Fact Checks California’s Climate Progress: US EPA Data Shows No Meaningful Drop in GHG Emissions Amid Rising Energy Costs

SACRAMENTO, CA — The California Center for Jobs and the Economy today released this special report which uses recently released US EPA data to conduct a thorough fact-check of California's climate initiatives. The findings reveal that not only has California failed to significantly outpace other states in reducing climate emissions, but it has also directly escalated costs, such as electricity, resulting in California having some of the highest national energy costs in its pursuit of climate change objectives.

Reports and Studies

Special Report: Fact Checking California’s Climate Claims

The other states are doing as well, if not better than, California in reducing emissions, especially when considering that most states reopened their economies far earlier following the pandemic.

Reports and Studies

Special Report: Taylor Swift’s Impact on the Economy in Los Angeles County

Based on the assumptions below, the six nights of The Eras Tour in Los Angeles (Inglewood) is estimated to result in a $320 million bump to Los Angeles County GDP (direct, indirect, and induced impacts). Area employment will increase 3,300, and local earnings by $160 million.

Statewide and Regional Business Community Responds to Supreme Court Decision on Affirmative Action

SACRAMENTO—The united business community today issued the following response to the U.S. Supreme Court ruling that overturned affirmative action practices for college and university admissions:

Press Release

Assemblymember Irwin and Committee’s Decision on the Wealth Tax Prioritizes Fiscal Stability for California

SACRAMENTO, CA – The California Business Roundtable extends sincere appreciation to Assemblymember Irwin, Chair of Assembly Revenue and Taxation, and the committee members for their prudent decision to hold Assembly Bill 259, the wealth tax proposal. We thank Assemblymember Irwin for her leadership and the committee's commitment to maintaining fiscal stability.

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