California State Profile

Unemployment hits 70-year high and is among worst in the US; revised revenue collections fall below expectations; business tax climate is among worst in the nation; new home sales remain at historic lows, but inventories have shrunk.

• State job growth fell 5.0% in August 2009 from a year ago; national job growth fell 4.4%.
• State unemployment averaged 12.2% in August 2009; the national average was 9.7%
• Personal income fell 3.3% to $1.6 trillion in Q2 2009 from a year ago.
• Tax revenue fell 14.0% in Q2 2009 from the previous year.
• Exports fell 22.1% to $70.2 billion in the first seven months of 2009 from a year ago.
• Venture capital investment in CA fell 62% to $1.5 billion in Q2 2009 from a year ago.