Click here to close now.




















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
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at @DevOpsSummit, Haseeb Budhani, CEO and Co-founder of Soha, shared five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the friction an...
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...