California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

California's population has topped 38 million, and three of the state's 10 fastest growing
counties are in the Valley, according to a new report from the state Department of Finance.

The department's demographics unit estimates that California's population grew by nearly
436,000, or 1.16%, in the 12 months between July 1, 2007, and July 1, 2008, reaching
38.1 million.

That is an increase of nearly 4.3 million residents since the last national census in 2000.
While Los Angeles remains the state's most populous county with more than 10 million
residents, Central Valley communities continue to see growth. Placer County east of
Sacramento had the biggest percentage increase in population in the 12-month period.
It grew by 2.6%. Tulare County  had the state's fourth biggest percentage increase, growing
by 1.89%. Madera County ranked seventh, with a 1.76% growth rate, and Fresno was 10th
fastest, growing by 1.68%. Fresno remains the state's 10th largest county with a population
of 936,828. Tulare County's population is now 438,276 and Madera's is 151,938. Elsewhere
in the Valley, Merced County grew by 1.53% to 256,114 and Kings County grew by 1.38%
to 155,024. Mariposa County's population was essentially static, losing two residents to bring
the county's population to 18,297, according to state estimates.

LIES, DAMN LIES AND STATISTICS
Additionally, the Department of Finance released a report that has determined that 2008 marks
the fourth consecutive year when more residents left the state than moved here from other states. 
During the last fiscal year, 135,173 more people moved out of California than moved in from other
states.

Similar to periods of the 1990s, a combination of job losses and unaffordable home prices (median
home prices reached $505,000 in Southern California in 2007), the exodus underscores the state's
sour economy.  And as more jobs are lost and property values continue to decline, it seems there
is as yet no end in sight.

Although the growing international immigration birth rate helped modestly boost California's population
a modest 1.16% last year, a steady migration out of the state continues. As reported by the Los
Angeles Times, many of those who left California went to Texas, according to truck rental company
U-Haul International Inc., while states such as Nevada, Arizona and Washington also became alternatives.

I am Tim Johnson and this has been the California Business Minute.