Great recession – California Globe

California Budget Deficit Climbs To $68 Billion

December 7, 2023 7:51 pmDecember 7, 2023 7:51 pm

The Legislative Analyst’s Office (LAO) announced on Thursday that the state budget deficit now stands at $68 billion for the 2024-2025 fiscal year, $10 billion higher than initial projections showed earlier this month. California’s state budget has fluctuated wildly in...

City of San Bernardino Exits Decade-Long Bankruptcy By Posting $2.5 Million Surplus

September 14, 2022 5:30 amSeptember 13, 2022 8:01 pm

The city of San Bernardino exited it’s bankrupt status on Tuesday following over a decade of facing severe revenue and cash shortages. On August 1, 2012, San Bernardino filed for bankruptcy following posting a $45 million shortage of revenue and...

California Home Sales Fall Nearly 21% in June, Signaling Market Cooloff

July 19, 2022 12:18 pm

According to a new report from the California Association of Realtors (CAR) released on Monday, home sales plunged by nearly 21% in the state last month, hitting sales levels not seen since the COVID-19 pandemic lockdown and the Great Recession,...

City of Folsom and Folsom Chamber Campaign To Fight Labor Shortage

November 19, 2021 12:42 pmNovember 19, 2021 12:43 pm

A new joint Folsom-Folsom Chamber of Commerce campaign to alleviate the labor shortage by appealing to retirees, stay-at-home parents, and teenagers received national attention this week due to the unique strategy of the program, with many remaining unsure of if...

California Unemployment Rate Almost 20%

April 30, 2020 7:37 pm

On Thursday, new figures released by the US Department of Labor showed that around 3.7 million Californian workers have filed for unemployment during the last seven weeks due to the coronavirus outbreak, a total close to 20% of workers in...

Los Angeles Mayor Garcetti Announces Historic Number of Furloughs During State of the City Address

April 20, 2020 3:00 pmApril 20, 2020 3:42 pm

On Sunday, Los Angeles Mayor Eric Garcetti announced during the annual State of the City address that due to a budget shortfall caused by the effects of the coronavirus, a sweeping 26 unpaid days off of furloughs for all civilian...

New California, Nationwide Unemployment Claims Remain High for Third Week in a Row

April 9, 2020 9:33 pmApril 9, 2020 10:24 pm

Statewide unemployment claims climbed past 2 million during the first week of April according to a new Department of Labor report. The weekly report also found that California’s 925,000 newly unemployed workers were a major part of last weeks 6.6...