US EditionAn Economy Not Worth Boasting About
- California's economy has experienced a sustained period of slow growth over the last two years, characterized by limited job market expansion and subdued consumer demand.
- The state's economic slowdown is largely due to a persistent lack of affordable housing and an increasing number of older workers leaving the labor force, both of which limit overall growth.
- Despite these challenges, Governor Gavin Newsom highlights California as the world's fourth-largest economy at $4.1 trillion and boasts leadership in innovation and sustainability.
- In April 2025, California had a 5.3% unemployment rate with 1.6 jobseekers per open position, leaving over a million unemployed despite available jobs.
- This economic stagnation affects population and industry growth, illustrated by the Bay Area's tech sector shedding jobs after pandemic expansion, even as Newsom continues to tout the state's economic strengths.
13 Articles
13 Articles
An economy not worth boasting about
Gavin Newsom loves to boast about the state he governs, claiming that California is No.1 in some category or that the state is leading in some economic or cultural activity. Sometimes his boasts crumble in the face of reality, such as his 2022 declaration that the state budget had a $97.5 billion surplus and “no other state in American history has ever experienced a surplus as large as this.” It was later revealed that the surplus claim was base…
California Gov. Newsom Admin Reportedly Holds Closed-Door Business Meetings With Chinese Gov’t Officials
Members of Democratic California Gov. Gavin Newsom’s administration held discussions on trade cooperation with Chinese officials on Monday ahead of the anniversary of the Chinese Communist Party’s Tiananmen Square massacre, according to documents obtained by National Review. The meeting was reportedly held days before the 36th anniversary of Tiananmen Square during the China-California Business Forum, an annual summit […] California Gov. Newsom …
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