June 7, 2017

NOT IN KANSAS ANYMORE...:

How California Helps the U.S. Economy (Mike McPhate, JUNE 5, 2017, NY Times)

Over the last five years, California has outperformed the nation in just about every important economic metric. Yes, the state is big, accounting for about 12 percent of the nation's population. But its share of economic growth has been even bigger.

California accounted for 17 percent of job growth in the United States from 2012 to 2016, and a quarter of the growth in gross domestic product.


"What these numbers say is that California is crucial to U.S. growth, far beyond what we could expect from our population alone," said Stephen Levy, director and senior economist of the Center for Continuing Study of the California Economy in Palo Alto.

California was hit hard by the housing bust and recession, so it makes sense that the state would have a stronger rebound. But it also shows how the recovery has been guided by what Mr. Levy calls "the three Ts," which are technology, trade and tourism.

Posted by at June 7, 2017 5:14 PM

  

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