|Dwight Johnston, Vice President and Chief Economist for the California and Nevada Credit Union Leagues|
THE GOOD, THE BAD, THE PROMISING
updated 09/25/13 09:14 AM
CA and NV Play 'Catch-Up'
After reviewing mid-year job creation data, California merits a "B," and Nevada is improving from an "F" to a "C+."
The unemployment rate for California has declined from a peak of 12.4 percent to 8.6 percent, and Nevada is down from 14 percent to 9.6 percent. But the unemployment rate calculation is taken from the household survey, which is narrow and includes "self-employed."
A better picture can be gleaned from the nonfarm payroll survey of larger businesses.
California lost approximately 1.4 million jobs, but recovered 700,000. What the data does not show is how consistent the uptrend has been since it began in earnest in late 2011.
CO-OP ANNOUNCES SHAREHOLDER DIVIDEND updated
04/14/14 01:37 PM
Patronage Pool of $30.5 Million
CO-OP Financial Services has announced a shareholder dividend pool of $30.5 million for 2013—a 17 percent increase from 2012. Since becoming a credit union-owned cooperative in 1996, CO-OP’s total shareholder patronage has been $284.8 million.
DBO REPS ADDRESS 'CUOLI' INVESTMENTS updated
04/14/14 01:05 PM
State CU Update Given
California Department of Business Oversight (DBO) Commissioner Jan Owen and Deputy Commissioner of Credit Unions Erick Orellana gave attendees an overview of the department during the California Credit Union League’s 2014 Government Relations Rally (GRR) last week in Sacramento and welcomed questions from attendees.
CONGRESSMEN CONCERNED OVER RBC RULES updated
04/09/14 01:18 PM
Questions Arise During Hearing
Reps. Ed Royce, R-CA, and Brad Sherman, D-CA, questioned National Credit Union Administration (NCUA) General Counsel Mike McKenna on the effectiveness of the NCUA's proposed risk-based capital rule during a House Financial Services Committee hearing last week.