Monday, January 5, 2009

Effects of Recession in California

U.S. Senator Barbara Boxer released a report about the impact of the recession on the California economy titled "The Realities of Recession in California". The report is based on interviews the Senator's staff held with representatives from all 58 counties and 20 selected cities.

The report is available in two forms: the full report includes data on unemployment and foreclosures, as well as a one-page narrative outlining economic conditions in each county. The supplemental "quick guide" includes charts which provide a color coded snapshot of budget deficits, program cuts, layoffs, foreclosures, crime, unemployment, and credit.

Senator Boxer's report is a helpful source for examining impacts on cities and counties. Additionally, several California State agencies take a big-picture look at the budget and economy, such as the Office of the Governor, and the California Department of Finance. Other state agencies who track and analyze the budget include the California State Controller, and the State Treasurer.

Of course, the Federal government also tracks data and analyzes government, consumer and business spending for both the nation and states. A variety of federal agencies gather, analyze, and report economic conditions: The Commerce Department, including the U.S. Census Bureau and Bureau of Economic Analysis, the Bureau of Labor Statistics, the Treasury Department, the White House Office of Management and Budget and the Presidents National Economic Council.

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