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December 2001

Economic Update

After avoiding the national employment slowdown for several months, California’s labor market took a turn for the worse in November as a sharp drop in employment pushed the unemployment rate up.  Construction and real estate activity in October, though, appeared to be shrugging off the immediate effects of the September 11 attacks. 

Chart graphic  Same-Store Retail Sales Rise Modestly

Monthly Cash Report

Preliminary General Fund agency cash for November was $104 million below the 2001 Budget Act forecast of $4.4 billion.  Year-to-date, revenues are $931 million below expectations.  

Chart graphic
General Fund Agency Cash
2001-02 Budget Act Forecast

Table graphic
2000-01 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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