California News Blog

Because of California’s vast size, the state is home to a very diverse economy with different regions each containing its own economic base.  Hollywood has an entertainment economy, Southern California is aerospace, Central Valley is agriculture, Silicon Valley is computers and high tech manufacturing, and then there are places such as Napa Valley and Sonoma Valley with a wine based economy.  In terms of jobs, however, the largest employers are those in trade, transportation, government, professional services, education and health services, and leisure and hospitality industries.

For 2007, the gross state product was about $1.812 trillion, which contributes to 13 percent of the nation’s gross domestic product, making California the state with the highest gross state product.  Nevertheless, California still faces a budget deficit, causing many legislations being passed in an attempt to alleviate the financial problems.  In 2008, the state had the 6^th highest tax burden of any state.  Although many of California’s coastal cities are among the wealthiest cities in the nation, agricultural regions such as Central Valley tend to suffer from poverty due to many migrant farm workers earning less than minimum wage.

Tags: California·Central Valley·Gross domestic product·Minimum wage·Napa County California·Silicon Valley·Southern California·United States