In 2017, the top 1% of income taxpayers in California accounted for over 47% of income tax revenue. California has among the highest income tax rates for upper-income households and one of the lowest income tax rates for lower-income households.California's SPM rate has been gradually improving, as it is down from 17.2% over the three-average from 2017 to 2019. The District of Columbia had the highest SPM rate at 14.6%, followed by New York at 12.1% and Mississippi at 11.6%. California’s SPM rate was 13.2%, compared to a national average of 9.6% (three-year average 2019-2021). The national average was 11.2% over the same time period.ĭue largely to the high cost of housing, California has the second-highest poverty rate under the Supplemental Poverty Measure (SPM), which takes cost of living into account. Mississippi had that the highest rate at 18.1% followed by Louisiana at 17.2%, while Census Bureau, California had the 22nd-highest poverty rate of 11% under the traditional poverty measure using the three-year average from 2019 to 2021 (the latest year for which data are available) among all 50 states and the District of Columbia. Federal government employment declined by 1% and Finance and Insurance employment by 0.7%.Īccording to the U.S. Arts, Entertainment, and Recreation grew 16.6% and total farm employment increased by 4.9%. Employment grew across the vast majority of sectors over the 12 months as the state continued to rebound from the sharp decreases seen at the state of the COVID-19 pandemic in March 2020. Total non-farm employment grew 2.8% and government employment grew 2.1% between February 2022 and February 2023. The unemployment rate was 3.8% in October 2019 before the onset of the pandemic. According to the Bureau of Labor Statistics, the unemployment rate was 4.3% in February 2023, down from 5.4% and 8.5% in February 20, respectively. How does California compare to other states?Ĭalifornia represents the fourth-largest economy in the world and its 39.2 million residents give it the largest population in the United States.
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