Economic Analysis of So. California

The average American is interested in the state of the national economy, crime and pollution in that these are regularly reported in the news and may even provide a barometer for the nation's performance. But the average American is far more interested in local issues since those are the statistics that have a real-world impact on his or her life. This research examines ten such issues and considers whether Californians are better off than the rest of the country as a whole.

One of the most common statistics used to measure the economy is the real gross domestic product (real GDP). The following chart illustrates that the national real GDP has been increasing over the past six quarters, which means that the American economy is producing more goods and services in each successive quarter; the data presented in this graph is compiled by the federal government (Table 1.2, 2001, p. 1):

Although real GPD is increasing (although the rate of increase is slowing), the national unemployment picture is not as optimistic. According to the Bureau of Labor Statistics (BLS), unemployment reached the 4.9 percent level in September 2001, compared to an annual rate of 4.0 percent for 2000 (Latest Numbers, 2001, p. 1). This 4.9 percent level (the same level was reached in August 2001) is the highest unemployment figure since 1997 (Labor Force Statistics, 2001, p. 1).

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aerospace companies located in the state. However, aerospace has been hit hard during the 1990s and the early part of the current decade, and companies associated with the so-called "new" economy have located in other areas (including the state of Washington). Despite the higher unemployment rate in California, new jobs are being created in the state. During August 2001, nonfarm employment increased by more than 194,000 jobs (compared to more than 228,000 in Florida and 202,000 in Texas). Not all states had gains in employment during August: Mississippi, Missouri and Oregon each saw declines in the number of jobs available in excess of 1.5 percent (Regional and State, 2001, p.á2). Thus, although California has a higher unemployment rate than the nation as a whole, it continues to be able to create new jobs, offering a slightly positive outlook for its residents. Aside from the actual number of jobs available, it is also important to note how Californians fare in terms of benefits provided by employers. During 1993 (the latest year for which figures are available), 47 percent of California companies offered health insurance to their employees. A total of 62.7 percent of employees were eligible to enroll in the health pla
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Approximate Word count = 2829
Approximate Pages = 11 (250 words per page)

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