California was recently ranked as the 6th largest economy in the world. A healthy economy, as well as a great exchange rate, has led to this fantastic growth. Last year, California created so many employment opportunities. Four of the largest companies in the world are located in this state, including Facebook and Alphabet. The economic growth of California is not only big, but also growing at a faster rate than that of any other nation. Without a doubt, the state has an enormously productive economy that is superb for growth.
The Bureau of the Economy shows that the economic output of the west coast of California was at $2.46 trillion in the year 2015. That number has been able to push the state’s economic output above other cities. California saw a growth of 2.4 percent, which was more than that of the United States as a whole. The rise in global rankings has come at the expense of some countries like France and Brazil. France has been burdened by a currency that is weak, while Brazil has been struggling economically.
Why California for you and your young family?
California is a good city for the young families because there are numerous job opportunities available. Employment makes it easier for people to afford the cost of living. A city that has ensured that most of its people have jobs has an added advantage when it comes to economic growth. Moreover, a city that has given jobs to most people has good security. This is because people will not rob others in order to survive. Other needs that the state has looked into are childcare, job training, and public support during calamities, and equal pay irrespective of gender, decent wages, and policies that support working families.
What has led to California’s economic growth?
According to Forbes, California’s economy has grown over the years. In fact, last year the city created more job opportunities than any other state. California has a population that is approaching 40 million. The city has the largest companies in biotechnology, banking, health care, communication equipment and other technology hardware, entertainment and movies, semiconductors, gas and oil, online retail, and a few software-related fields.
It is true that the economy of California is impressive. Moreover the state has numerous advantages that make it wealthy. It also has a large young productive population, which is an added benefit to economic growth. California has an excellent climate and great topography as well. The city has so many factors that enable its economy to grow at the rate that it is.
The women factor in California’s economy
A stronger California is a California that has a synchronized and all-inclusive set of policies. Policies that are geared towards the offering of a strengthened economic opportunity as well as a triumph for California’s women, their families, and the communities that they come from. This is because women are for all intents and purposes the primary caregivers of a family. The children and their husbands are dependent on these women in one-way or another. The American Bureau of Statics gives the impression that just about 50% of the American workforce is made up of women who are primary income earners in their households. Despite women having performed better in education than men, they are likely to face numerous challenges in their struggle to being economically successful. However, California offers economic security to all Californian women regardless of their race, color, or religion.
Therefore, it is evident that the potential for women’s economic progression in California cannot be exaggerated. California’s administration and economic growth has managed to a large extent to secure an economic opportunity for all women, thus strengthening families, the public, and the welfare of the state. Therefore, it is important for any woman with a young family to take note of California’s size and national significance since it is the right combination that is likely to fuel both women’s social and economic success and strengthen their families, all thanks to the strong economy.
Eric Lawrence Frazier, MBA
President and CEO
NMLS #461807 CalBRE #01143484
