Finance Bulletin

March 2002

Economic Update

California’s economy remains strong, but rising home, gasoline, and energy prices are putting upward pressure on prices.  Construction activity was mixed in October but was still up from a year ago.

Recently revised employment estimates show that California had about 75,000 fewer jobs in 2001 than the establishment survey had indicated during the year.  Job losses in computer services and personnel supply accounted for almost all of the downward revision.  The December 2001 and January 2002 labor market reports, however, paint a brighter picture of California’s economic condition.  In particular, the state’s travel and tourism industry seems to be shrugging off the impacts of the September 11 attacks.

  Bouncing Back From September 11

Monthly Cash Report

Preliminary General Fund agency cash for February was $210 million below the 2002-03 Governor’s Budget forecast of $3.628 billion.  Year-to-date, revenues are $954 million lower than the $42.548 billion that was expected.


General Fund Agency Cash
2002-03 Governor's Budget Forecast

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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