California Takes Tech Firm Away from Florida

A technology company in Florida called Flippbox has returned to Sacramento, California to its main headquarters. The company’s main service is mail management and cloud syncing. Since 2012, the company has made its mark in the Bay Area of California. However, after its focus on Florida to reap the lower business taxes and to partake in the robust economy claim by Governor Rick Scott, the company made the uncertain move. Soon the founders and CEO of Flippbox realized that California was a more profitable place to conduct business as evident in their bottom line. There was too much needed to get their operations off the ground in the state of Florida. It became an uphill battle for the company. Why?

No Duplication

It was very hard for the company to duplicate the level of talent and competence enjoyed at the headquarters in California. The lifestyle and infrastructure was considerably different in Florida as well. The company found out too soon that Florida was unable to offer sufficient light rail. Florida has gone to lengths in the past and now to recruit companies from California. However, California seems to be a better state to succeed in business; at least at a faster rate.

More Profitability

California has been acknowledged as the leader in profitability and innovative advancement. This is an essential consideration for all technology companies to note. California now has more than fifty Fortune 500 companies headquartered in the state; in comparison to Florida, which has only fifteen. When you do the comparison, California has taken first place in the profitability category.

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Title Loan Direct Announces Partnership with Gold Acceptance

Gold Acceptance, a popular car title loan provider that specializes in lending to borrowers with subprime credit scores has announced a recent partnership with Title Loan Direct. Through the new partnership, Title Loan Direct will be expanding their services to a greater range of borrowers and offer more loans through their California-based headquarters.

Gold Acceptance/Title Loan Direct Partnership Means More Loans for California Residents

“Being able to provide more title loans to our customers helps our company grow,” said Title Loan Direct’s president, Michael Wilson.  “Our partnership with Gold Acceptance is a big move as we continue to add loan services to our company roster.”

By supplying more borrowers throughout California with loans, Title Loan Direct’s partnership with Gold Acceptance will help to spread awareness about how car title loans work in California, and the financial advantages they have to offer their borrowers.

The Two Rising-Star Companies Offer Alternative Loan Resources for Sub-Prime Credit Borrowers

Given the high number of different loan options for borrowers in California, the partnership between Title Loan Direct and Gold Acceptance is a significant step forward for title loans and subprime credit loans in the state of California. Their increased availability to borrowers with poor credit or little to no financial history has boosted their popularity as a loan choice for many California residents.

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California Adds Over 60,000 Jobs

More than half of the states in the nation have been doing extremely well in the area of job creation and growth. The state of Texas has added more than 25,000 positions, and Florida added almost 22,000 to their state payroll. California has been one of the best states to notice job growth and a drop in their unemployment rate. Recent data shows that the employers throughout California were able to add 60,400 jobs, in the month of December alone. This is one of the largest single month job growth numbers seen for the state over the past three years.

A look at California’s job growth stats

Governor Jerry Brown has been boasting about his state over the past several months, even referring to the job growth as a California comeback. Based on numbers, California added jobs at a faster rate than the rest of the nation. They had a 2.9 percent faster rate than the 1.9 percent nationwide rate. In addition to job growth, unemployment rate remained about the same from November to December with 5.8 percent.

The construction industry in California  noticed one of the fastest growth rates, with expanded payrolls at 8.6 percent. Professional and business sectors were also up 5 percent, while manufacturing was down slightly. According to a California Solar Jobs Census report, one in three employees works in the solar industry in California. 2015 was a record breaking year for this sector as they added at least 20,000 jobs throughout the state.

Will California continue this trend?

Officials are questioning if the state can keep these numbers up, especially with the economic slowdown currently going on in China. This might have an effect on the American market, but as of right now, the state remains in a “yellow zone”.

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Wal-Mart Closing Stores in California

Wal-Mart is one of the largest retailers in the United States and for good reason. The store offers great low pricing and a wide variety of items, including groceries. It was recently announced by Wal-Mart Stores Inc. that there are plans to close 269 stores, including 154 in the U.S. Nine of those stores are going to be closing throughout the state of California. This news has left many residents worried about how the closings will affect their communities.

Stores to close in California

Two stores have already closed, and five are set to close this week. The Los Angeles Wal-Mart store on Crenshaw Boulevard, the Wal-Mart Neighborhood Market located in Chinatown on West Cesar E. Chavez Avenue, and store in Oakland were all closed on Sunday January 17th.

Five locations set to close on January 28th include stores in Long Beach, Altadena, Bell Gardens, Hawaiian Gardens, and San Bernardino. Many of the locations that are closing are not full service Wal-Mart locations, but rather Wal-Mart Market stores which specifically sell groceries.

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A Look at California’s Current and Future Job Market

California’s Current and Future Job Market

California has had some disturbing economic news in the recent past. This is as a result of the tumultuous activities in the China markets. This news is particularly alarming since China is one of California’s primary trading partners. California has had a terrible drought, leaving half a million farmland acres in fallow. The state’s business climate has received an almost bottom financial ranking.

The Prediction

Conversely, the economic prediction for the state of California has shown something else. In fact, the job market and state’s economy seems to be growing at a faster rate than the other states in the United States. This is according to a recent report indicating a noticeable and continued trend to be anticipated over the next few years.

Recently, a survey was done as to finding any obstacles that would get in the way of this economic growth. Whether these obstacles are perceived or real, they pale in contrast to California’s position as a lure for sophisticated entrepreneurs, which is the nucleus for boom in technology and a trading partner with the Pacific Rim.

Simple Explanation

There is a simple explanation for all of this. People have a desire to live in the state of California because of the economic climate and relaxed setting. In addition, year round, the state has unique weather and geographical attractions that continue to attract wealthy immigrants and visitors from around the world.

Prediction of Job Market

Due to the recession, California experienced a higher unemployment rate than other states except for Nevada and Michigan. However, California rebounded quickly from the recession. According to many expert economists, the job projection for California looks good.

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Bright Outlook For California Jobs

The state of California has seen a decrease in unemployment numbers over the course of the 2015 year. Being such a highly populated state, lowered unemployment numbers mean job growth throughout the state. Labor analysts were able to determine that California’s Bay Area is looking especially bright for future jobs. Employment in the Bay Area alone is looking brighter, but the state of California as a whole created a great amount of jobs in 2015.

Job development in 2015

Labor lawyer and former director of the Employment Development, Michael Bernick, said that California’s labor market did extremely well in 2015. In fact, over 400,000 jobs were created throughout the year. This is a trend that has been continuing since the recession. Since 2010 through 2015, the total number of jobs created around the state totals about 2.1 million.

Back in 2010, California had an unemployment rate of 12.5 percent, and in just five years, that number decreased to only 5.7 percent. This decrease over the past couple of years might be due to a change in the workplace since the recession. Bernick said there has been a breakdown of full-time work into part-time work, contingent work, and independent contracting.

Jobs look bright in 2016

It is no surprise that with the decrease in unemployment rates and steady job growth since 2010 that Bernick says California is only expected see continued job growth in 2016. Bernick believes that there will be an increased in independent contracting positions, which might decline full-time positions with benefits.

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5 Best Cities to Find A Job in California

5 Best Cities to Find A Job in California

As the state of California has noticed a decrease in the number of individuals unemployed, it is important to take a look at the cities, throughout the state, that are best when looking for a job. In order to determine the best cities to find a job, experts have to look at positions that are available in each area, as well as jobs that are on the rise, and those which are declining.

WalletHub Findings

WalletHub analysts completed a comparison of the top 150 most populated cities in the United States against a range of about 17 key metrics. These metrics spanned from job opportunities available in each city to the rate of employment growth. The National Association for Business Economics expects that non-farming positions will grow to over 200,000 jobs per month because the national unemployment rate has fallen to 4.7 percent. Recent college graduates are expected to see the biggest boost in both job prospects and their earning potential.

The National Association of Colleges and Employers has stated that in 2015, more than 60 percent of employers wanted to start raising starting salaries for those with a Bachelor’s degree. These statistics helped WalletHub with their findings, including the best cities to find a job in California.

How WalletHub Ranks

To begin, WalletHub analysts looked at the main dimensions, which include Job Market and Socioeconomic Environment. They believe that these two categories will have the most heavy influence. Each of these two categories looked at subcategories, which had their own total number of weighted points, totaling 100. Values ranged between 0-100, with 100 being the best value.

In the category of Job Market, subcategories include Job Opportunities, Employment Growth, Monthly Median Starting Salary, Unemployment Rate, Industrial Variety, Full-time Employment, Percentage of Employed Residents Living Under the Poverty Line, and Disability Friendliness.

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California’s Unemployment Rate Decreases

California's Unemployment Rate Decreases

California State Senator, Kevin de León, was just in the news for his comments stating California’s job growth has been faster, compared to the nation. It is no wonder that following these statements, the California Employment Development Department has released data from surveys regarding employment in the state.

The state of California has actually seen a decrease in the unemployment rate. In the month of November, the unemployment rate decreased 5.7 percent, while the United States unemployment rate remained the same, at 5.0 percent. It seems that the state, which has been working since 2010 in job recovery, is seeing great improvement.

Statistical comparisons for unemployment rates

In addition to information about unemployment rates throughout the state, the California EDD also released information regarding nonfarm payroll jobs, which showed an increase by 5,500 during the month of November, leading to a total gain of over 2 million jobs since recovery began in 2010. To really understand this comparison, you have to look at where California was at, in regards to unemployment rates, just one year ago.

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California Job Growth Faster Than the Rest of the U.S.

job-growth-ca

California is one of the most populous states in the nation, so it is no wonder that job growth in the state might be faster than the rest of the United States. Many critics believe that because of the state’s new clean energy law, California’s economy and job outlook might be on the decline, specifically in the oil industry. State Senator, Kevin de León, believes that the new clean energy law has no effect on job growth, as the economy remains consistent.

Were Kevin de León’s statements true?

There has been a great improvement in job growth since the Great Recession when that state lost over 1 million jobs between 2007 and 2009. This job improvement has come from a housing rebound, which provided more housing and construction jobs. Economists believe that de León’s statement about California outpacing the rest of the nation in job growth to be true. California’s job growth rate is in fact higher than the country’s overall job growth.

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