February 2003

Economic Update

California’s labor market wavered in December. Over 15,000 industry jobs were lost and the state’s unemployment rate rose to 6.6 percent, breaking out of the 6.4 percent – 6.5 percent range it had been in since March.

Residential Building Permits

Monthly Cash Report

Preliminary General Fund agency cash for January was $203 million below the 2003-04 Governor’s Budget forecast of $9.719 billion.  The variance between January and year-to-date cash results from differences between actual and estimated December revenues.

General Fund Agency Cash
2002-03 Budget Act Forecast

2002-03 Comparison of Actual and Forecast 
Agency General Fund Revenues

For more information, please contact the California Department of Finance,
Room 1145, State Capitol, Sacramento, CA or call (916) 323-0648.

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