State tax collections for the first month of the fiscal year that began July 1 are $376 million below forecast for the month, the state Department of Finance Bulletin for August said August 17.

The bulletin said that of the $376 million shortfall, $197 million is revenue that arrived later than expected and will be counted in the next few months. 

In June, California employment posted its second consecutive month of “commendable job growth,” the department said, noting the unemployment rate fell from 10.8 pecent in May to 10.7 percent in June.

Some 38,300 jobs were added in June bringing the total jobs added for May and June Read more »