Connect with us

California Black Media

Income Up, Inflation Slowing, State’s Dept. of Finance Report Says

Californians’ personal income increased by 8.2% in the first quarter of 2024 due to higher wages, salaries, and property income, stated the July report released by the state Department of Finance last week. The report indicated that California’s real gross domestic product grew by 1.2% in the first quarter of this year. In the past two years, national inflation rates decreased by 6.1%, slowing down inflation to 3% in June 2024. However, the report showed that the national unemployment rate gradually increased by 4.1%, meaning that a total of 162,000 individuals are without formal jobs. However, California’s unemployment rate remained at 5.2% in June this year.

Published

on

iStock image.
iStock image.

By Bo Tefu

California Black Media

Californians’ personal income increased by 8.2% in the first quarter of 2024 due to higher wages, salaries, and property income, stated the July report released by the state Department of Finance last week.

The report indicated that California’s real gross domestic product grew by 1.2% in the first quarter of this year. In the past two years, national inflation rates decreased by 6.1%, slowing down inflation to 3% in June 2024.

However, the report showed that the national unemployment rate gradually increased by 4.1%, meaning that a total of 162,000 individuals are without formal jobs. However, California’s unemployment rate remained at 5.2% in June this year.

The state’s labor force increased by 7,200 people and civilian household employment grew by 17,500 jobs. A majority of the jobs created by the state were driven by trade, transportation, and utilities.

Other sectors such as government, private education, health services, and hospitality and leisure added jobs in the past year. However, the manufacturing sector experienced the largest job loss, losing nearly 3,000 jobs in June. Other sectors that suffered great job losses included construction followed by mining and logging.

The state permitted a total of 106,000 housing units in May, a 5.1% increase from last year. The median sale of a single-family home now costs approximately $900,720 in June 2024.

California’s Preliminary General Fund agency cash receipts were $361 million, a little above the forecast for the 2023-2024 fiscal year.

“June is an important month for personal and corporate income tax receipts because it contains the due date for second quarter estimated payments,” the report stated.

According to the financial report, personal income tax cash receipts were $145 million in June, remaining slightly above the forecast for the current fiscal year. Annual withholdings, a percentage of an employee’s earnings paid directly to government-mandated collections, decreased by 9.9 %.

The report highlighted that single-month readings are often misleading and inaccurate due to calendar changes that affect the timing of payments and stock-based compensation.

@PaulCobbOakland @NNPA_BlackPress @BlackPressUSA @PostNewsGroup @CaliforniaBlac2

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Activism

Oakland Post: Week of June 17 – 23, 2026

The printed Weekly Edition of the Oakland Post: Week of June 17 – 23, 2026

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Bay Area

IN MEMORIAM: Longtime OUSD Employee Debra King-Cooper, 73

Longtime OUSD Employee Debra King-Cooper, 73 Caption: Debra King-Cooper. Courtesy photo. Special to The Post Debra King-Cooper, a beloved mother, grandmother, queen, sister, church member, caregiver, and matriarch, transitioned peacefully on May 20 surrounded by family and love i

Published

on

Debra King-Cooper. Courtesy photo.
Debra King-Cooper. Courtesy photo.

Special to The Post

Debra King-Cooper, a beloved mother, grandmother, queen, sister, church member, caregiver, and matriarch, transitioned peacefully on May 20 surrounded by family and love in the comfort of her home. To her children, she was royalty, grace, strength, and unconditional love embodied.

Debra Diane Edgar was born on May 28, 1952, in San Francisco, California, to Charles Edgar Sr. and Mamie Arthur Edgar. She was raised alongside her younger brother, Charles Edgar Jr., affectionately known as “Little Brother” or “Lil Bruh.” She also shared close bonds with her older siblings Carol Edgar-Lang, Maryann Edgar Calloway, and Lonnie Lewis Sr.

A proud product of San Francisco’s historic Fillmore District, Debra attended Andrew Jackson Elementary School, where she met her lifelong best friend and adopted sister, Lynn Green, in the fifth grade. She later attended Robert Louis Stevenson Elementary School, Roosevelt Junior High School and Thomas Jefferson High School.

Debra’s mother transitioned when she was only 17 years old, and her father transitioned when she was 23. Despite these profound losses, Debra remained grounded through the love and support of extended family and lifelong family friends,

In 1971, she married Harold King. On Sept. 24, 1972, they welcomed their first son, Dajuan Artese King, affectionately called “Pop” or “Poppa.” On Aug. 5, 1976, they welcomed their second son, Dante Dupree King, affectionately called “Tay” or “Taboocoo the Baby.”

After her divorce in 1982, Debra assumed full responsibility for raising her sons.

She supported Dajuan’s passion for football by purchasing sports equipment and attending games faithfully. She supported Dante’s love of music by enrolling him in the San Francisco Boys Choir, Oakland Boys Choir, and the Castlemont Castleers.

Professionally, Debra built an exceptional career. She worked at Blue Shield of California from 1973 until 1994, earning multiple promotions.

She later joined the Oakland Unified School District, initially in a temporary role before being promoted into management within the Labor Relations Department. She retired from OUSD in 2015 after years of distinguished service. During her years at OUSD, she built meaningful friendships with her colleagues.

Faith was central to Debra’s life. During the 1980s, following personal hardship, she joined Love Center Church under the leadership of Bishop Walter Hawkins, where she brought her children regularly. She later became a member of Triumphant: A Church Without Walls Ministries under Pastor Dr. Larry Short, who became a beloved spiritual mentor.

After Triumphant closed in 1992, Debra joined Cosmopolitan Baptist Church in Oakland under the leadership of Pastor Larry Ashley, where she remained for the rest of her life.

At Cosmopolitan, she worked in numerous ministries. She served on the usher board, sang in the choir, participated in the AIDS ministry during the height of the HIV/AIDS epidemic, helped feed and support unhoused community members, and mentored and supported a group of young girls.

After retirement, she cared for older adults in her church community, driving them to appointments, cleaning their homes, managing finances, preparing meals, and helping families navigate funeral arrangements after loved ones transitioned.

Even while battling Stage 4 cancer herself, she continued caring for others.

Debra was preceded in death by her parents, Charles Edgar Sr. and Mamie Arthur Edgar; her brothers, Lonnie Lewis Sr. and Charles Edgar Jr.; her sisters, Maryann Edgar Calloway and Victoria Stephenson Knight; and her adopted mother, Clara Oliver.

She leaves to cherish her memory her beloved sons, Dajuan King and Dante King; grandson, Tiyler Dajuan Artese King; sister, Carol Edgar-Lang; goddaughters Monique Belle and Ricketa Matthews Jones (Leonard); daughter-in-love Quiona Sullivan; son-in-love Marcel Walker; sister-in-law Delores Lewis; adopted sisters and lifelong friends Lynn Green, Barbara Stephenson Hill, and Sarah Fine; a host of nieces, nephews, cousins, great-nieces, great-nephews, extended family members, her church family and dear friends.

Continue Reading

Activism

Oakland Post: Week of June 10 – 16, 2026

The printed Weekly Edition of the Oakland Post: Week of June 10 – 16, 2026

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Subscribe to receive news and updates from the Oakland Post

* indicates required

CHECK OUT THE LATEST ISSUE OF THE OAKLAND POST

ADVERTISEMENT

WORK FROM HOME

Home-based business with potential monthly income of $10K+ per month. A proven training system and website provided to maximize business effectiveness. Perfect job to earn side and primary income. Contact Lynne for more details: Lynne4npusa@gmail.com 800-334-0540

Facebook

Trending

Copyright ©2021 Post News Group, Inc. All Rights Reserved.