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California
Related: About this forumCalifornia Is Now World's 5th Largest Economy, Surpasses UK
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California's gross domestic product rose by $127 billion from 2016 to 2017, surpassing $2.7 trillion, the data said. Meanwhile, the UK's economic output slightly shrunk over that time when measured in U.S. dollars, due in part to exchange rate fluctuations.
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All economic sectors except agriculture contributed to California's higher GDP, said Irena Asmundson, chief economist at the California Department of Finance. Financial services and real estate led the pack at $26 billion in growth, followed by the information sector, which includes many technology companies, at $20 billion. Manufacturing was up $10 billion.
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California's economic output is now surpassed only by the total GDP of the United States, China, Japan and Germany. The state has 12 percent of the U.S. population but contributed 16 percent of the country's job growth between 2012 and 2017. Its share of the national economy also grew from 12.8 percent to 14.2 percent over that five-year period, according to state economists.
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California's strong economic performance relative to other industrialized economies is driven by worker productivity, said Lee Ohanian, an economics professor at University of California, Los Angeles and director of UCLA's Ettinger Family Program in Macroeconomic Research. The United Kingdom has 25 million more people than California but now has a smaller GDP, he said. California's economic juggernaut is concentrated in coastal metropolises around San Francisco, San Jose, Los Angeles and San Diego.
California's gross domestic product rose by $127 billion from 2016 to 2017, surpassing $2.7 trillion, the data said. Meanwhile, the UK's economic output slightly shrunk over that time when measured in U.S. dollars, due in part to exchange rate fluctuations.
...
All economic sectors except agriculture contributed to California's higher GDP, said Irena Asmundson, chief economist at the California Department of Finance. Financial services and real estate led the pack at $26 billion in growth, followed by the information sector, which includes many technology companies, at $20 billion. Manufacturing was up $10 billion.
...
California's economic output is now surpassed only by the total GDP of the United States, China, Japan and Germany. The state has 12 percent of the U.S. population but contributed 16 percent of the country's job growth between 2012 and 2017. Its share of the national economy also grew from 12.8 percent to 14.2 percent over that five-year period, according to state economists.
...
California's strong economic performance relative to other industrialized economies is driven by worker productivity, said Lee Ohanian, an economics professor at University of California, Los Angeles and director of UCLA's Ettinger Family Program in Macroeconomic Research. The United Kingdom has 25 million more people than California but now has a smaller GDP, he said. California's economic juggernaut is concentrated in coastal metropolises around San Francisco, San Jose, Los Angeles and San Diego.
https://www.nbclosangeles.com/news/local/California-Is-Now-Worlds-5th-Largest-Economy-Surpasses-UK-481770711.html
Hey, anyone remember when we passed that tax increase in 2009 to pay for infrastructure and everyone said it would tank our faltering economy? Oh, and looks like left coast liberals are some of the most productive workers in the world!
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California Is Now World's 5th Largest Economy, Surpasses UK (Original Post)
SunSeeker
May 2018
OP
silverweb
(16,402 posts)1. Yay, California!
California_Republic
(1,826 posts)2. Then can I get a raise? #proud
SergeStorms
(18,888 posts)3. Another reason.....
Republicans are so intent upon keeping that census question, "are you an American citizen"? Around 3 million undocumented - but very productive - workers reside in the state. Republicans hate the idea that every person in California is accounted for, are getting the appropriate number of Representatives in the House, but most of all receives appropriate government tax dollars for all. They want those tax dollars to go to the red states that receive far, far more tax dollars than they ever pay in. That's what's considered "fair" in Red America. That's why they always try to suppress the vote as well. Republicans do love their slave labor!
SunSeeker
(51,367 posts)6. California accounts for a lot of the job growth Trump is touting.
Immigrants create job growth. Reality is the exact opposite of the GOP talking point.
TreasonousBastard
(43,049 posts)4. Uh-oh. Is CalExit in the works?
SunSeeker
(51,367 posts)5. No. Putin wants us to, but we won't. nt
Mr.Bill
(24,103 posts)7. I'm sure Trump will take credit for it. n/t
SunSeeker
(51,367 posts)8. He already has, by claiming credit for the CA-boosted national jobs numbers.