Skip to comments.Personal income falls 2.5% in California
Posted on 03/26/2010 7:46:23 PM PDT by thecodont
Personal income in California fell last year for the first time since the Great Depression, the Commerce Department said Thursday.
State income plunged even more sharply in 2009 than the similar, historic drop that occurred on a national basis, a notable reversal given that California generally has beaten the national averages throughout the 80-year history of this report.
Personal income includes wages and salaries, health and pension benefits, rents, dividends and interest, federal payments such as unemployment and Social Security, and just about every form of wealth except stock sales and other capital gains.
The 2.5 percent drop in statewide personal income works out to $1,527 fewer dollars for every man, woman and child in California.
The accompanying nationwide drop of 1.7 percent works out to a $1,028 decline in per capita income for all Americans.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/03/25/MNQC1CLAG0.DTL#ixzz0jLDhhimK
(Excerpt) Read more at sfgate.com ...
economic darwinism at work...
good luck California!
economic darwinism at work...
good luck California!
Oh, and get some Hollywood freaks to do a video montage about how great it is to have a business in the great state of California. It's really turned Michigan around..
bahahahahahahaha.... I just love the hope and change .. What the dems are doing now is leveling out the field so that we are all Detroit.
When ever CA bottoms out should we sell it to Mexico?
Last year the unions in my town accepted a 1% or so pay raise. This year they want 6.9% to make up for their "cut" last year. Budget comes up for a vote in May so I cut out the New England part of the report for our Republican Town committee to pass around. The decline in per capita income in CT is worse than in CA:
Yes. Let them have it, then build a real border.
good thing bush isnt president. then it would be serious in the papers. now, just ho-hum.
Well, this paper did put the article on the front page and above the fold in its print edition. That’s pretty attention-getting for a paper in a newspaper vending machine. The headline shouts at all who pass by.
Follow the link and read the article comments. I don’t get the impression they’re all blaming Bush.
Unemployment soars from maybe 5% to 12%; many people can’t find work and unemployment “benefits” have run out so they are no longer counted as unemployed; and many (most?) private sector workers have taken salary haircuts of 10% or more. So how can personal income ONLY fall 2.5%?? That number just does not jibe with reality. Maybe they misplaced that decimal point and it should read “personal income falls 25% in California” — THAT I would believe.
Well they should raise taxes.
I wouldn’t be surprised if the minimum income is falling EVERYWHERE!
It’s a lot more than that. I wish these alledged experts if there really are any would tell the truth; but they can’t because they are more interested in making numbers up to suit their agendas.
Personal income in Texas fell, but not hard
The department's Bureau of Economic Analysis said personal income in Texas slipped by 1.6 percent primarily because property income, which includes dividends and interest, dropped by 9.2 percent.
Net earnings by Texas workers fell by 2.5 percent during the year but they were counterbalanced by a nearly 11 percent rise in transfer receipts, which includes government payments and insurance settlements.
Officials said the declines in each state typically reflected the problems associated with the dominant industries there. Nevada, which experienced the biggest drop-off at 4.8 percent, sustained big losses in the construction sector and the accommodations industry, which includes casinos.
Construction, durable goods manufacturing and mining, which includes oil and gas drilling, were the sectors with the biggest reductions in Texas.
Personal income in Texas totaled almost $909 billion in the fourth quarter last year. That was the third highest total in the nation behind California and New York, the bureau said.
On a per capita basis, however, it reached $36,484, ranking Texas 29th nationally.
Wow, what a surprise. We have a governor and legislature that is taxing the crap out of the citizens, residents and businesses of CA, causing many to leave the state, including the businesses. We have a jobless rate of 12.5(that is the fake figure), with people under 25 having a jobless rate of 25% and they wonder why personal income has dropped? Add to that the wonderful health care bill that is now the law of the land and things will get worse. However, they will soon release the monthly figures and I bet they will tell us how unexpectedly good things are for us here in the land of fags and dikes.
They would still need a heck of a lot of shops to close their shortfall. It won’t be long until Heroine, Prostitution and other vices are legalized to pay for their socialism.
Please , please , please pass this to everyone from California, Arizona , and every generic nipple sucking citizen from north of the Red River.
Texas sucks. Don't move here. Our women are fat, our men are violent and lazy and most importantly. ....... Business is terrible. Especially when compared to all the other sophisticated, generous and smarter places you could move to.
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