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Finance, business services, government and manufacturing
- As both the most populous US state and one of the most climatologically diverse states, the economy of California is varied, with many sizable sectors. The most dominant of these sectors include finance, business services, government and manufacturing.
en.wikipedia.org/wiki/Economy_of_California
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Thanks to Hollywood, Silicon Valley, manufacturing, and agricultural industries, California is one of the major economic engines of the United States. There are over four million small local businesses here that employ nearly 50 percent of the state’s workforce.
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Aug 30, 2023 · Discover the current state of California's economy, including its growth, unemployment rate, and key industries. Get insights from government data provided by the Bureau of Economic Analysis and the Bureau of Labor Statistics.
In 2023, the finance, insurance, real estate, rental, and leasing industry added the most value to California's gross domestic product, adding 577.27 billion chained 2017 U.S. dollars. The...
Government is California's largest industry, like most states, with about 2.5 million employees. The second largest industry, according to the Census, is Healthcare and Social Assistance. [ 27 ]
The state's three largest industry sectors in terms of GDP – finance and insurance; trade, transportation, and utilities; and professional and business services – also provide a foundation to other industry sectors, including manufacturing and information.
Real GDP increased in all 50 states and DC in 2021. Compared to GDP of nations, California’s 2019 GDP of $3.1 trillion ranks as 5th largest in the world.1 The chart below show percent change of California real GDP from 2020 through second quarter 2022. Businesses, Employment, and Income.
Real GDP increased in all 50 states (6.4%) in the first quarter of 2021. California real GDP in the first quarter of 2021 was 6.3%.2. New business applications, considered a leading indicator, were down 13.5% at the end of July 2021, as compared to the same time period in 2020.3.