Tuesday, July 29, 2014
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

State boasts better economic outlook

walters column sig

By
From page A13 | December 12, 2012 |

Is there light at the end of the dark tunnel that has been California in recent years or is it merely another train wreck in the making?

The state’s long economic malaise appears to be ending, two sets of economists said last week, while a new postelection survey of Californians finds them more optimistic than they have been for many years.

The flip side is that the state’s recovery from the worst recession since the Great Depression remains slow and fragile and could be derailed by downturns in the national and international economies.

And while Californians’ dispositions have become sunnier of late, they’re still wary and uninterested in another tax increase on top of Proposition 30, which won voter approval last month.

UCLA’s Anderson Forecast issued one of the mildly optimistic analyses of the state’s economy, seeing continued growth in payrolls and personal income and a slow decline in its unemployment rate, finally dipping below 10 percent in 2013.

Beacon Economics, a private firm that does economic forecasting for a number of local communities, issued one for the Riverside area last week and included a somewhat more upbeat state version than Anderson, calling California “a driving force behind the national economic recovery” with nearly 300,000 jobs added in the past year.

However, all economic forecasts contain caveats, such as the uncertainty over slowdowns in Europe and Asia that could ripple into the United States and California, which is more connected to the global economy than most states.

Not all forecasters are as optimistic as Anderson and Beacon. Bill Watkins, who runs the California Lutheran University forecasting unit, has been consistently less sanguine. He and Beacon’s top economist, Chris Thornberg, have often sniped at each other.

The Anderson and Beacon forecasts imply that when Gov. Jerry Brown finalizes his proposed 2013-14 budget this month he, too, will adopt a mildly optimistic economic outlook that will translate into higher state revenue. Credit rating firms are already looking more kindly on California’s fiscal situation.

Californians who are not economists, and who tend to look at the state more viscerally than arithmetically, have brightened their outlooks in recent months, the postelection poll by the Public Policy Institute of California, also released last week, found. But they’re not completely sold.

The percentage of adults saying California is now headed in the “right direction” rose to 44 percent, the highest level in five years, but 50 percent still opt for the “wrong direction.” Significantly, younger Californians are more optimistic while older ones remain more pessimistic, and white Californians are much less positive than Latino or Asian Californians.

Dan Walters is a columnist for the Sacramento Bee. Reach him at dwalters@sacbee.com.

LEAVE A COMMENT

Discussion | 1 comment

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

  • Rich GiddensDecember 12, 2012 - 8:48 pm

    Nonsense--California's economy is a basket case of closed store fronts along with business and industry leaving because of your government's tax and regulatory gonzo ways on steroids. The government's analysts can be optomistic all they want but statistics cant cover up high unemployment along with high gas and grocery prices.

    Reply | Report abusive comment
.

Solano News

Area LGBT Democratic Club cancels meet

By Glen Faison | From Page: A5

 
Library teens plan summer reading party

By Glen Faison | From Page: A5

 
Weather for Tuesday, July 29, 2014

By Daily Republic staff | From Page:

 
Big-rig driver strikes telephone lines in Fairfield

By Ryan McCarthy | From Page: A5 | Gallery

 
Fairfield police log: July 27, 2014

By Glen Faison | From Page: A12

Suisun City police log: June 27, 2014

By Glen Faison | From Page: A12

 
Caltrans makes I-80 lane change

By Barry Eberling | From Page: A5

 
Fairfield tries to end Cordelia Road detour

By Barry Eberling | From Page: A3 | Gallery

 
‘Guardians of the Galaxy’ primed for big screen

By Amy Maginnis-Honey | From Page: A7

.

US / World

 
Sacramento Gold Rush Days canceled due to drought

By The Associated Press | From Page:

Annoying minor floods are increasing on US coasts

By The Associated Press | From Page:

 
Man charged in teen’s 9-month disappearance

By The Associated Press | From Page: | Gallery

Medicare’s own health looking better, report says

By The Associated Press | From Page:

 
Deal to improve veterans’ health care costs $17B

By The Associated Press | From Page: | Gallery

Suspect dead, 2 marshals and cop wounded in NYC

By The Associated Press | From Page: | Gallery

 
New fears about Ebola spread after plane scare

By The Associated Press | From Page:

In Iraq’s Mosul, radicals unleash their vision

By The Associated Press | From Page:

 
Fighting in Ukraine prompts residents to flee

By The Associated Press | From Page: | Gallery

Israeli PM warns of prolonged campaign in Gaza war

By The Associated Press | From Page:

 
Witnesses: Thunderstorm hit beach without warning

By The Associated Press | From Page: | Gallery

Suspect’s mom also charged in Long Beach burglary

By The Associated Press | From Page:

 
City: Emails show ‘cozy’ ties of PG&E, regulator

By The Associated Press | From Page: | Gallery

Pool water dumped in South Tahoe; resort fires 3

By The Associated Press | From Page:

 
Additional charge filed in California wildfire

By The Associated Press | From Page:

California governor takes dig at Texas guard plan

By The Associated Press | From Page: | Gallery

 
.

Opinion

Editorial cartoons for July 29, 2014

By Daily Republic Syndicated Content | From Page:

 
Immigration protests short on compassion

By John M. Crisp | From Page:

 
.

Living

Horoscopes for July 29, 2014

By Holiday Mathis | From Page: B5

 
Today in History for July 29, 2014

By The Associated Press | From Page:

I don’t want to have intimate contact since learning I had a STD

By Kathy Mitchell and Marcy Sugar | From Page:

 
Community Calendar: July 29, 2014

By Susan Hiland | From Page:

.

Entertainment

Kevin Bacon brings his ‘Six Degrees’ to Comic-Con

By The Associated Press | From Page:

 
Sarah Palin launches online subscription channel

By The Associated Press | From Page: | Gallery

‘Sharknado’ sequel has bite and lots of laughs

By Frazier Moore | From Page: | Gallery

 
TVGrid July 29

By Daily Republic Syndicated Content | From Page: B6

.

Sports

Giants lose 5th straight, 5-0 to Pirates

By The Associated Press | From Page:

 
 
Lakers finally confirm Byron Scott is new coach

By The Associated Press | From Page:

Raiders relying on healthy Watson to solidify line

By The Associated Press | From Page:

 
This date in sports history for Tuesday, July 29, 2014

By The Associated Press | From Page:

Quarterback Johnny Manziel’s day at Browns camp

By The Associated Press | From Page: | Gallery

 
Judge OKs record-setting $2B sale of Clippers

By The Associated Press | From Page: | Gallery

Humphrey to savor Hall of Fame day with ‘wingman’

By The Associated Press | From Page:

 
Rays’ Archer: ‘Never saw Hank Aaron flip his bat’

By The Associated Press | From Page:

 
Reed HOF induction gives Bills cause to celebrate

By The Associated Press | From Page: | Gallery

In the Pits: Gordon eyeing 5th title after big Brickyard win

By Jenna Fryer | From Page: | Gallery

 
Marketing agreement an obstacle in US bid for 2024

By The Associated Press | From Page:

Sailors to navigate dirty water in 1st Rio test

By The Associated Press | From Page:

 
Manningham back with Giants, with no guarantees

By The Associated Press | From Page:

.

Business

Contracts to buy US homes slip in June

By The Associated Press | From Page: | Gallery

 
FAA proposes to fine Southwest Airlines $12M

By The Associated Press | From Page: | Gallery

Stocks pause as traders await key economic news

By The Associated Press | From Page:

 
Zillow buying Trulia to build real estate titan

By The Associated Press | From Page: | Gallery

Dollar Tree steps up fight, buys Family Dollar

By The Associated Press | From Page: | Gallery

 
.

Obituaries

.

Comics

B.C. July 29

By Daily Republic Syndicated Content | From Page: B4

 
Get Fuzzy July 29

By Daily Republic Syndicated Content | From Page: B4

Baldo July 29

By Daily Republic Syndicated Content | From Page: B4

 
Baby Blues July 29

By Daily Republic Syndicated Content | From Page: B4

Rose is Rose July 29

By Daily Republic Syndicated Content | From Page: B4

 
Zits July 29

By Daily Republic Syndicated Content | From Page: B4

Crossword July 29

By Daily Republic Syndicated Content | From Page: B5

 
Garfield July 29

By Daily Republic Syndicated Content | From Page: B4

Pickles July 29

By Daily Republic Syndicated Content | From Page: B4

 
Frank and Ernest July 29

By Daily Republic Syndicated Content | From Page: B4

Beetle Bailey July 29

By Daily Republic Syndicated Content | From Page: B4

 
Peanuts July 29

By Daily Republic Syndicated Content | From Page: B4

Word Sleuth July 29

By Daily Republic Syndicated Content | From Page: B5

 
Cryptoquote July 29

By Daily Republic Syndicated Content | From Page: B5

For Better or Worse July 29

By Daily Republic Syndicated Content | From Page: B4

 
Bridge July 29

By Daily Republic Syndicated Content | From Page: B5

Wizard of Id July 29

By Daily Republic Syndicated Content | From Page: B4

 
Dilbert July 29

By Daily Republic Syndicated Content | From Page: B4

Sally Forth July 29

By Daily Republic Syndicated Content | From Page: B4

 
Blondie July 29

By Daily Republic Syndicated Content | From Page: B4

Sudoku July 29

By Daily Republic Syndicated Content | From Page: B5