Economy
California is the 5th largest economy in the world. It’s a powerhouse built by our people. Here’s how we’ll ensure economic opportunities reach all Californians.
Creating jobs
California Jobs First will create more good-paying jobs, faster. It is a first-of-its-kind model that streamlines the state’s workforce development. It will guide investments in job creation, industrial strategy, and economic development.
Lowering costs
We’re making California more affordable to more people. Governor Newsom is doing that by focusing not only on the needs of businesses, but also on the needs of workers. California has been the place where the middle class dream is achievable. We’re taking action to make that dream an affordable reality today.
Unlocking the freedom to succeed
California is preparing students for the workforce of tomorrow. We’re helping them build skills, leading to high-paying and fulfilling careers — even without a college degree. That’s giving people the freedom to succeed.
Getting job training for Californians
Californians are learning the new skills they need for good-paying jobs. The Governor is creating:
- more apprenticeship opportunities,
- new career pathways for young Californians,
- better access to training programs for farmworkers, and
- support for former oil and gas workers.
Investing in business innovation
We’re doubling down on our investment in California’s innovation and entrepreneurial ecosystem. We fuel this by creating policies that support big thinkers and job creators. Governor Newsom is cutting bureaucratic red tape. And he’s keeping business here with billions in tax relief and grants.
News about the economy
Governor Newsom seeks injunction to immediately stop Trump tariffs
May 13, 2025
News What you need to know: California today filed a request for a preliminary injunction to immediately stop President Trump’s unlawful tariffs while the state’s lawsuit proceeds. Tariffs are not only expected to impact trade, but the upcoming state revenues and...
WEDNESDAY: Governor Newsom to release revised budget plan in Sacramento
May 12, 2025
News SACRAMENTO – Governor Gavin Newsom will release his revised 2025-26 state budget proposal on Wednesday in Sacramento.WHEN: Wednesday, May 14, 2025 at approximately 10:30 a.m.LIVESTREAM: Governor’s Twitter page, Governor’s Facebook page, and the Governor’s YouTube...
Ahead of projected “Trump Slump,” Governor Newsom announces record-high tourism — again
May 5, 2025
News What you need to know: California remains the #1 state for tourism, with record-high tourism spending reaching $157.3 billion in 2024. However, the Trump administration’s policies and rhetoric are driving away tourists, killing tourism and hospitality jobs, and...
