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February 2002

Economic Update

After apparently feeling the effects of the national slowdown in November, California’s condition turned up in December as industry employment all but held steady and the unemployment rate inched down.  Residential construction also strengthened considerably.

Chart graphic  California's Unemployment Rate Dips

Monthly Cash Report

Preliminary General Fund agency cash for January was $514 million below the 2002-03 Governor’s Budget forecast of $8.408 billion.  Year-to-date, revenues are $743 million below forecast.  The variance between January and year-to-date cash results from differences between actual and estimated December revenues. 

Chart graphic
General Fund Agency Cash
2002-03 Budget Act Forecast

Table graphic
2001-02 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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