Welcome!

News Feed Item

UCLA Anderson Forecast Event Tackles Job Creation, Education Challenges Impacting Los Angeles, California and Nation

L.A. Mayor Eric Garcetti joins leading economists, business and community leaders to find "Solutions for Our City"

LOS ANGELES, April 2, 2014 /PRNewswire-USNewswire/ -- Los Angeles Mayor Eric Garcetti took the stage today as keynote speaker of the UCLA Anderson Forecast: Solutions for Our City event to address key challenges facing the city, from a growing poverty rate and lack of accountability in City Hall, to the regulatory tax environment and job growth.

"The focus that we have here today on skills, on creating jobs…to me, they're more and more unified than they've ever been," said Garcetti. "Los Angeles doesn't necessarily grow people at the rate they need in order to become productive workers. We have to make sure our skills align with the needs of our economy here – especially for our youth."

With Los Angeles facing a declining middle class, Garcetti said his administration is working hard to create more opportunities for young people, including a summer jobs program for youth that will launch this year and will offer 10,000 jobs. Other efforts such as keeping parks open late are aimed at lowering truancy rates.

Garcetti also stressed the need to jumpstart the jobs infrastructure and make sure the city's tax and regulatory environment is welcoming to businesses.

"We have to hustle for business from City Hall," said Garcetti. "We need to market this town, we need to make sure people know that it's a global investor…. Things are moving, and we have to make sure they move for everybody."

UCLA Anderson Forecast economists helped paint a broader picture of the current economic conditions in Los Angeles and across the nation. Forecast Director Ed Leamer pointed to the fact that, while the U.S. has seen a 25 percent job growth since 1990, during the same period, Los Angeles has lost 3.1 percent of its payroll jobs – worse than Detroit and Cleveland.

"We really need to get that job engine growing," said Leamer. "The city's development strategy has to move in two distinct directions. We want to be like the Bay Area and attract entrepreneurial types, but at the same time, we have to do something for the rest of Angelenos who don't have the same prospects."

Forecast Economist William Yu told the "Tale of two cities," of a bifurcated Los Angeles that has a highly educated population along the coast, but a much less educated population throughout the rest of the city.

"West Los Angeles, with a higher human capital, remains competitive while the rest of L.A., with a low human capital, lags behind," Yu said in relation to the impacts on employment and income rates.

Forecast Senior Economist Jerry Nickelsburg talked about California's drought, noting that, while the state is in a drought emergency, data show that aridity is not a causal factor in economic growth. In fact, Southern California consumes the same amount of water as 30 years ago, even though population has increased.

"We've adapted, we've made changes," said Nickelsburg. "It really doesn't show up as being something that is a drag on economic growth."

In his California economic update, Nickelsburg said the state's economy continues to grow, with nonfarm payroll employment only .6 percent below its previous peak and employment .5 percent above its previous peak. While the housing recovery has legs, it still has a long way to go, he added.

Forecast Senior Economist David Shulman presented the national economic forecast, focusing on the impacts of an unseasonably cold winter in the Midwest and one of the warmest winters in California. While the harsh winter weather that ravaged much of the country caused slower than expected national growth in the first quarter, the U.S. economy is expected to rebound in the spring with a 3 percent GDP growth, boosted by increased housing and business investments, as well as gains in consumer spending.

Shulman predicted a minimum wage increase sometime in August or September 2014, as well as an uptick in inflation above 2 percent in 2016. Housing will continue to rebound, with multi-family leading the recovery, he said.

The UCLA Anderson Forecast event also featured two panel discussions on job availability and job preparedness. Expert panelists raised a series of additional key issues affecting Los Angeles's economic recovery, including a strict regulatory environment for businesses, the importance of paid summer internships and job training programs, lowering the recidivism rate of former prison inmates, immigration reform, and trucking and environmental regulations, among others.

About UCLA Anderson Forecast
UCLA Anderson Forecast is one of the most widely watched and often-cited economic outlooks for California and the nation and was unique in predicting both the seriousness of the early-1990s downturn in California and the strength of the state's rebound since 1993. More recently, the Forecast was credited as the first major U.S. economic forecasting group to declare the recession of 2001. Visit UCLA Anderson Forecast at http://uclaforecast.com. For a historical timeline of the Forecast, click here.

About UCLA Anderson School of Management
UCLA Anderson School of Management is among the leading business schools in the world, with faculty members globally renowned for their teaching excellence and research in advancing management thinking. Located in Los Angeles, gateway to the growing economies of Latin America and Asia and a city that personifies innovation in a diverse range of endeavors, UCLA Anderson's MBA, Fully-Employed MBA, Executive MBA, Global Executive MBA for Asia Pacific, Global Executive MBA for the Americas, Master of Financial Engineering, doctoral and executive education programs embody the school's Think In The Next ethos. Annually, some 1,800 students are trained to be global leaders seeking the business models and community solutions of tomorrow. Follow UCLA Anderson on Twitter at http://twitter.com/UCLAAnderson or on Facebook at http://www.facebook.com/uclaanderson.

 

Los Angeles Mayor Eric Garcetti speaks at the UCLA Anderson Forecast event on April 2, 2014.

 

(Left to Right) Noel Massie moderates a discussion on job preparedness between Michael Stoll, Frederick Zimmerman, Alicia Lara, Leslie Aaronson and Jan Perry at the UCLA Anderson Forecast event on April 2, 2014.

 

(Left to Right) Jim Tortorelli, John Husing, Matthew Kahn and Miguel Santana participate in a discussion on job availability at the UCLA Anderson Forecast event on April 2, 2014.

 

Los Angeles Mayor Eric Garcetti (center) with UCLA Anderson Forecast economists (left to right) Jerry Nickelsburg, David Shulman, Ed Leamer and William Yu on April 2, 2014.

 

www.uclaforecast.com. " border="0" alt="UCLA Anderson Forecast - www.uclaforecast.com. " align="middle" src="http://photos.prnewswire.com/prnvar/20130605/LA26150LOGO"/>

 

UCLA Anderson School of Management.

 

Video - http://origin-qps.onstreammedia.com/origin/multivu_archive/PRNA/ENR/FX-LA97382-20140403-1.mp4
Photo - http://photos.prnewswire.com/prnh/20140402/LA97382-a
Photo - http://photos.prnewswire.com/prnh/20140402/LA97382-b
Photo - http://photos.prnewswire.com/prnh/20140402/LA97382-c
Photo - http://photos.prnewswire.com/prnh/20140402/LA97382-d
Logo - http://photos.prnewswire.com/prnh/20140225/LA71820LOGO
Logo - http://photos.prnewswire.com/prnh/20130605/LA26150LOGO

SOURCE UCLA Anderson School of Management

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Providing secure, mobile access to sensitive data sets is a critical element in realizing the full potential of cloud computing. However, large data caches remain inaccessible to edge devices for reasons of security, size, format or limited viewing capabilities. Medical imaging, computer aided design and seismic interpretation are just a few examples of industries facing this challenge. Rather than fighting for incremental gains by pulling these datasets to edge devices, we need to embrace the i...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
"We formed Formation several years ago to really address the need for bring complete modernization and software-defined storage to the more classic private cloud marketplace," stated Mark Lewis, Chairman and CEO of Formation Data Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.