The nation’s largest public pension fund reported a dismal 1 percent return on its investments, a figure far short of projections that will likely add pressure on California’s state and local governments to contribute more.
California is one of 10 states where home foreclosures have hit children harder than elsewhere in the nation, according to a study that documents the far reaching impact of the foreclosure crisis on the young.
The 2012 Economic Profile shows that the region has rebounded from the recession very well but still has some areas which it could improve upon.
Foreclosed properties in Vallejo are now under target by city officials who claim that some of them have become eyesores in the neighborhood. Officials are now proposing stiff fines for owners who let their properties go.
A report released Thursday claimed it will take another two to three years for the Bay Area to regain all jobs that were lost in the recession. However, the report also suggested that the road to recovery runs right through Silicon Valley.
Several new stores, shops and restaurants have opened in downtown Walnut Creek, attracting bigger crowds to the area.
The recession isn’t the only reason there are fewer jobs out there today; technology is also changing the face of the job market.
It’s the best of times in San Francisco. And, the worst of times, too.
Increasing numbers of Americans are dropping cable and satellite television service, and the weak economy is to blame, according to the Associated Press.
A recent Wall St. selloff has some traders fearing a double-dip recession. That perception may scare off many would-be shoppers, but not those who can afford luxury goods.