1.Obama: ‘Revving’ economy calls for higher wages
“President Barack Obama renewed his push for Congress to raise the minimum wage Monday in a buoyant accounting of the economy’s “revving” performance, delivered on behalf of Democrats opening their fall campaigns for the midterm congressional elections.”
2.Has L.A.’s economy come back?
“Among those who know Los Angeles’ economy best, there is one point of agreement: The city is slowly recovering from the 2007 collapse. It was seven years ago that a national housing and financial crisis triggered the worst economic downturn of this generation, and it hit L.A. hard. Unemployment soared to more than 13%; today, it is at roughly 8.7%. That is still high by historical standards, but things are steadily improving.”
3.Enter in the fall housing market: Shopping in Santa Monica with a $900,000 budget. Expectations running high before the fall season hits.
“You can smell the end of the summer real estate season as some drunk sellers are pulling properties off the market since they are unable to obtain their ridiculous prices. Funny how expectations work.”
4.A grim Labor Day for many Californians
“Although California’s job market has continued to improve during the past year, the current economic expansion has not been strong enough to begin reversing decades of wage stagnation and diminished economic opportunity for many California workers, according to a new report from the California Budget Project, which describes itself as a nonpartisan policy research organization.”