Economy

Elon Musk’s Tesla to Texas? Calif. business exodus may shift into high gear because of this

Tesla founder and CEO Elon Musk threatened to move his company headquarters and manufacturing plant, California’s sole remaining auto factory, out of state — to Texas and Nevada. Neither Texas nor Nevada has an individual income tax and their corporate taxes are lower, as well. With California’s higher taxes, greater red tape compliance costs, higher labor and land costs, and...

May 12, 2020
Economy

Payroll Employment Down By 20.5 Million In April, California Hardest Hit State Amidst COVID Lockdowns

The U.S. Bureau of Labor Statistics (BLS) issued its official employment report for April—or, in this season of COVID-19, more appropriately, the unemployment report. The topline is that nonfarm payroll employment fell by 20.5 million jobs, with the unemployment rate jumping 10.3% to 14.7%, the highest one-month jump since these statistics started being tallied in 1948. Some...

May 8, 2020