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Welcome To Cali-Fired-Ya.SAN FRANCISCO (Reuters) – If you’re looking for work, don’t look in California.The world’s eighth largest economy is still finding its feet after suffering multiple economic shocks, including a housing slump, mortgage crisis and recession.Employers in California, the most populous U.S. state, are expected to keep cutting staff in 2010 as the wider U.S. jobs market recovers.As industries in other U.S. states prepare to rehire on signs of recovery, firms in California are

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OK, class, holster your weapons and pay attention. Today we look at the economics of giving stuff away. There are usually consequences. Those of you who plan on running the economy in the future should learn from the screwups of your elders. Like the ones we have now. A case in point is Cash for Clunkers, the desperate US program aimed at paying people to buy new cars. It’s estimated this cost Washington $7,200 for every one of the 320,000 vehicles sold – about $2.3 billion. Of course, a

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Nice Q&A with Yale prof Bob Shiller on home prices: What are the main factors driving U.S. house prices? What could push them up, or cause another slump? Shiller: The main factor is the world economic crisis and the efforts of governments around the world to stimulate the economy. Parts of those efforts have been directed at the housing market. In the U.S., there is an 8,000 dollar first-time home buyer’s tax credit which expires at the end of November. That’s a reason for concern,

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S igns point to a rebound. As this recession emerged, many economists felt that it would only fade away when the sector where it all began healed itself. It was in late 2006 when the U.S. real estate bubble began to pop, setting off a chain reaction of shocks that hurt homeowners, lenders, and the entire U.S. economy. Three years later, we have new hope in the real estate sector – and the numbers to support it. Existing home sales rose 7.2% in July. This was not only the largest monthly gain e

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( NEWSDAY.com ) – Developer Michael Dubb dug two holes this month — breaking ground on sales models for Long Island ’s first major home construction project since the meltdown of last September. Back then, he wouldn’t have dared to approach lenders to build 289 townhomes on 50 acres in Medford , but during the summer he snagged a $24-million loan. “It’s safe to go back into the water,” Dubb said. Since the economy crashed a year ago under bad lending and mortgage investments, residenti

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