Posted on 07/15/2017 6:07:49 AM PDT by Mariner
Frustrated about unaffordable housing or clogged freeways? Think of it as the price you pay for living in one of the worlds largest economies.
Californias economy ranked sixth in the world in 2016, according to rankings released by Palo Alto economist Stephen Levy on Friday. Thats the same as the year before, when California overtook France and Brazil. But the states economy isnt stagnating; Californias economy is growing so quickly that Levy thinks the state will overtake the United Kingdom this year for No. 5.
Levy, head of the Center for Continuing Study of the California Economy, said the rankings are evidence of the states vigor in the aftermath of the recession. As recently as 2010, the state had fallen to 10th in the rankings and some policymakers were wondering, Are we losing our mojo? Levy said.
More broadly, he said the rankings show the state is prospering despite a host of problems.
It does say were doing well, he said. It does say that despite the housing, despite the transportation challenges and despite the air quality, were kicking (butt).
Although there have been signs recently that the states growth rate is slowing, Californias unemployment rate fell to 4.7 percent in May, the lowest in nearly 17 years. The June figures will be released next week.
Levy calculated the numbers from World Bank estimates released earlier this month and the U.S. Bureau of Economic Analysis, which breaks down state-by-state economic output. The U.K.s economy totaled $2.62 trillion, with California at $2.60 trillion.
(Excerpt) Read more at sacbee.com ...
But it has nice weather. AZ has terrible weather, please do not come here. hehheh. Cali was nice in 1958. hehheh
Over the course of my life I've lived in MD,VA,SC,GA and TX. Moving ain't no big deal. Get out now or put up with it. No sympathy here.
#CALEXIT! How can I help make it a reality?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.