California's Democratic candidate for governor, Gavin Newsom, has been praised for his economic performance by his opponents as "an economic maestro" who claim that the state's economy has grown by 40% since he took office, ignoring that the overall US economy grew faster. However, a new study by the Pacific Research Institute has found that Newsom's economic agenda is failing for job growth, cost of living, and outmigration. The report also criticizes California's lack of job creation and public sector job creation as California has not been leading the nation in job creation. Non-farm job growth in California has significantly underperformed the rest of the nation during the dot.com recovery from 2001-07 and post-housing bust recovery during much of the 2010s. Despite these improvements, California's share of the national economy has fallen to about 13.8%, and Newsom has spent more than $37 billion in office during his time in office, and homelessness has increased 24% during his tenure. California's income advantage has been eroded under high taxes, energy costs, and energy regulations, leading to increased domestic outemigration and high taxes. California’s once-golden economic advantage is becoming a deficit due to poor policies and high energy regulations.