"A dearth of economic data, thanks to last year's federal government shutdown, makes reading the tea leaves of the business climate even trickier than usual. California's situation seemed wobbly throughout most of autumn, with numerous high-profile layoff and business closing announcements, shrinking pay raises, and challenges with bill payments. Did I mention a frozen housing market due to unfathomable unaffordability and stubborn inflation? Additionally, the annual flurry of economic gurus' 2026 forecasts offered little fuel for hope, compounding this sense of uncertainty."
"Big picture Let's start with a reminder that, despite all the complaints about how challenging it is to operate a business in the Golden State, California remains the nation's No. 1 job market. California had 18.8 million folks saying they're employed in November, or 11% of the nation's 165 million. California's top two rivals are Texas, at 15.3 million, and Florida, at 10.7 million. California also had the largest one-year increase in this employment measurement: Up 211,300 or 31% of the nation's 688,000 increase."
A dearth of economic data due to last year's federal government shutdown made business-climate readings trickier than usual. California appeared wobbly through autumn with numerous high-profile layoffs and business closings, shrinking pay raises, and challenges paying bills. The housing market froze amid extreme unaffordability and stubborn inflation. Annual 2026 forecasts offered little hope. Recent indicators improved: consumer confidence jumped in December, statewide tax receipts surged, and the delayed November employment report showed California's job market relatively resilient nationally. California reported 18.8 million employed in November (11% of 165 million) and the largest one-year increase, up 211,300.
Read at www.ocregister.com
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