California leads in April home price growth
Home prices in California shot upward in April, leading the nation in growth as the Southern California and Bay Area markets remained red hot, according to a new report.Prices in the state rose 2.6% from March and nearly 18% from April last year, according to Lender Processing Services Inc. The company’s home price index showed prices rose 1.5% nationwide from March.
California receives tourism boost
With summer in California officially under way Thursday, employers in the state's leisure and hospitality industry have beefed up their payrolls ahead of the busy tourism season.
That was evidenced Friday, when U.S. Bureau of Labor Statistics figures showed that the leisure and hospitality sector led hiring in California for the month of May. The industry's payrolls in the state grew by 9,000 jobs last month.
A boost in hiring by hospitality and travel businesses is a sign that the economy continues to improve, said Ernest Wooden, chief executive of the Los Angeles Tourism & Convention Board.