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After 1900, California continued to grow rapidly and soon became an agricultural and industrial power. The economy was widely based on specialty agriculture, oil, tourism, shipping, film, and after 1940 advanced technology such as aerospace and electronics industries – along with a significant military presence.
The economy of the State of California is the largest in the United States, with a $4.080 trillion gross state product (GSP) as of 2024. [1] It is the largest sub-national economy in the world. If California were a nation it would rank in terms of nominal GDP as the List of countries by GDP World's fourth largest economy, behind Germany ( 4.71 ...
The year 1920 was the single most deflationary year in American history; production, however, did not fall as much as might be expected from the deflation. GNP may have declined between 2.5 and 7 percent, even as wholesale prices declined by 36.8%. [32] The economy had a strong recovery following the recession. [33] 1923–1924 recession
Grizzlies, it bears noting, became extinct in California in 1924, 78 years after that revolt. ... If California were a country, its economy would rank fifth internationally, behind only the U.S ...
The first American, English, and Russian trading ships first appeared in California a few years before 1820. The classic book Two Years Before the Mast by Richard Henry Dana Jr. provides a good first hand account of this trade. From 1825 to 1848 the average number of ships traveling to California increased to about 25 ships per year—a large ...
According to the LAO, California entered an economic downturn last year, with the number of unemployed workers jumping nearly 200,000 since the summer of 2022, raising the unemployment rate from 3 ...
The rank and file aren’t doing so well either: The California economy began to turn south in the summer of 2022 and nearly 200,000 Californians have lost their jobs since. Costs have gone up.
The U.S. state of California had a budget crisis in which it faced a shortfall of at least $11.2 billion, [1] and projected to top $40 billion over the 2009–2010 fiscal years. [ 2 ] 2008