State’s job outlook brightens

February 15, 2012

New jobs in California added over the next two years should decrease the state’s unemployment rate to 10 percent, according to an optimistic economic forecast by the Los Angeles County Economic Development Corp. [Los Angeles Times]

Predictions are for 500,000 new jobs, and officials of the development advocacy group  say the increase will be due partly to ongoing state budget slashes.

Government jobs and services have been cut back severely since 2007, and more than 85,500 local, state and federal jobs were lost during the recession. Those who were displaced are now are moving back into the work force. That factor, coupled with growth in private sector employment, helped account for the modest gains. Standard & Poor, the financial rating company, this week upgraded California to “positive” from “stable.”

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From the story: Predictions are for 500,000 new jobs, and officials of the development advocacy group say the increase will be due partly to ongoing state budget slashes.

They way you know a story like this is hogwash is because of the nice round number of predicted new jobs — in this case 500,000. You know the authors of the “study” just sit around and throw numbers back and forth and eventually settle on the number that is most believable “stretch” for whatever their agenda is for putting the story out into the public to begin with.

I’m curious, who is the Los Angeles County Economic Development Corp? Do they have a vested interest in predicting overly optimistic futures, so that government deficits can be minimized?

The President of the LACEDC is Bill Allen who used to be president of MTM (Mary Tyler Moore) productions. He is extremely well connected. The job of the LACEDC is supposedly to promote job growth in LA County. However, it is just a rah-rah organization supported by politicians and others. The LACEDC rah-rah organiziation then puts out press releses and gives awards with much fanfare to its major supporters. Then when those supporters get the LACEDC awards they immediatly put their new awards proudly on their resumes. This is a clear example of the scamming of America.

Here is all their news bullitins for 2011 from their website. As you can see it is mostly a rah-rah organization.

December 8, 2011

LAEDC CEO Bill Allen Releases Statement on Hollywood Community Plan [PDF]

November 3, 2011

LAEDC Announces the Winning Cities For 2011 Most Business-Friendly City Competition [PDF]

September 20, 2011

LAEDC Announces Finalists For 2011 Business-Friendly City Competition [PDF]

September 16, 2011

LAEDC Names Los Angeles World Airports As 2011 Corporate Eddy Award Recipient [PDF]

September 2, 2011

LAEDC Commends Legislative Leaders For Prioritizing Regulatory Streamlining Efforts [PDF]

August 29, 2011

LAEDC Promotes David Flaks To Chief Operating Officer [PDF]

July 29, 2011

LAEDC Applauds California Lieutenant Governor for Establishing State Economic Development Plan[PDF]

July 20, 2011

LAEDC Sees Continued Recovery But Also Distinct Challenges Ahead For Los Angeles County[PDF]

June 15, 2011

LAEDC Honors East West Bank Chairman Dominic Ng with 2011 Individual Eddy Award®[PDF]

May 20, 2011

LAEDC Joins Senate Pro Tem Darrell Steinberg & Chair of the Senate Health Committee Ed Hernandez in Statement Regarding the Lift of OSHPD’s Hiring Freeze

May 17, 2011

International Trade Trends: The Southern California Region 2010 Review and 2011 Outlook [REPORT] [PRESENTATION]

May 9, 2011

Mercedes-Benz to Launch Driving School in Los Angeles County [PDF]

May 2, 2011

Former Speaker of California Assembly Robert Hertzberg to Chair LAEDC [PDF]

April 19, 2011

New Construction at LAX Generates Almost 40,000 Local Jobs[PDF][TEXT]

March 14, 2011

LAEDC and World Trade Center Association L.A.-Long Beach issued a letter to the Consulate General of Japan regard the Japan disaster. LAEDC strategic partners have set up disaster relief funds: donate today to Japan America Society of Southern California or Japan Business Association of Southern California.

March 8, 2011

Southern California is Nation’s Largest Manufacturing Economy, Says LAEDC Report – View full report

February 16, 2011

LAEDC Report Says Southern California, California, U.S. Economic Recovery is Underway, Stronger Growth in ’12.

2011-2012 Economic Forecast and Industry Outlook and Dr. Nancy Sidhu’s presentation

Growing Together: Japan and Los Angeles County and Dr. Nancy Sidhu’s presentation

Dr. David Berson’s presentation: Outlook for the U.S. Economy, Housing, and Mortgage Markets

Feburary 4, 2011

LAEDC Statement about Former LAEDC CEO and Southern California Leadership Council Executive Director Lee Harrington.

January 12, 2011

LAEDC President and CEO Bill Allen read the memorial tribute poem to a crowd of hundreds of business, government and community leaders who all gathered at the Millennium Biltmore Hotel to remember Jack Kyser on January 12.

Like pretty much every gov’t figure, will this one also be revised next month or next quarter?

Just think, our employment will be all the way down to 10%. Reminds me of the Carter years. And yes, I was around at that time. Didn’t vote for Carter though. Or Obama.

God Bless America

I meant our unemployment will be down to 10%

We have been fortunate enough to be able to hire staff this year. We added a new employee just this month. I hope this trend holds true for the entire state.

If this is too personal then I completely understand but I’ll ask anyway. Is your job a govt. job? No offense if you don’t want to say, I understand.

TQ…you may ask me anything! No, I do not have a gov’t job.

I was just curious. I’m also hearing that others in the private sector have been seeing an upturn. Our business has been really weird for about a year now but it’s definitely better than it was a few years ago. It’s been weird in the way that when we least expect it it’s busy and vise versa.

I know what you mean, my business grew the most this last 2 years and all by referals.

The solution to the problem isn’t hiring more bureaucrats. The solution begins by firing more bureaucrats. How many private sector jobs (wealth generators) does it take to support one government “job”? Hiring more bureaucrats is not an indicator of a recovering economy. That said, I do know of one private sector company doing great: their business is assisting California companies relocate to other states. Every picture tells a story.

Actually, the problem is even worse. California’s population continues to rise while some businesses leave the state and almost no businesses contemplate expanding their facilities in California unless there is no other reasonable choice, i.e., California is the last place they want to expand their workforce, but they will grudgingly do it if necessary.

No, as pasojim said the population of Ca. is shrinking.

Actually, Typoqueen, despite the claims, primarily from the right, that CA’s population is shrinking, this is far from the truth. All during the last decade all you heard was CA’s population was shrinking. However, the 2010 Census shows that in fact the CA population increased significantly between 2000 and 2010. It is amazing how many CA citizens, including state and local politicians don’t know the facts. This is why CA’s anti-business environment has been so destructive to CA as we continue to have one of the very highest unemployment rates in the Country.

I stand corrected. I’m not sure where I read that but you are correct, here’s link to the Census Bureau:

Oh man, I hate admitting when I’m wrong. Sorry about that.

California is the laughing stock of the Nation. The population of californiia is shrinking, Businesses are leaving the state.

The jobs prospects are not optomistic.

Just more of the same propoganda we are exposed to on a daily basis.

Actually you’re wrong. The prospects of jobs are going to be good. I just read this interesting article,

Apparently California’s child population is shrinking at great speed. This seems due to two factors. One, more people have been afraid to have kids because of the economy and two more people are shacking up. The rates of couples choosing to live together has risen dramatically and this might also correlate as to why people aren’t having kids. According to the linked article we will soon have the dilemma of not enough work force to support our aging boomers. We might have more jobs then we can handle.

Jerry Brown has always had a history of bringing jobs, he did that for Oakland and he’s doing it for Ca..

Once again, Typo, this is not Jerry Brown bringing jobs. This is a manipulated recovery resulting from the continuing inflation of the monetary supply, and you will find the prices go up right along with it. It’s yet another BUBBLE, but because we haven’t actually made any corrections from all the other bubbles, this one too shall pop and the fall will be hard.

Well said, mkaney. That’s an economists answer.

That’s their mo; when a bubble comes along and bursts, just create ANOTHER bubble and start the destructive business cycle all over again.

Oh man that movie was so ahead of it’s time. What a great speech and besides being fabulously acted out, it is so true and on point. Great clip.

How is it manipulated? I’m not following, can you be more specific? It sounds like you’re saying that the govt. is making more money so that’s why there will be more jobs but that doesn’t make sense so can you please elaborate? Personally I don’t know how anyone can say what’s going to happen in a few months from now let alone a few years from now and that includes your assessment of it being another ‘bubble’. There’s never been a time like this to model economic trends. I think that your statement as well as the claim in this article are just big guesses. The only credence that I can give to this is that Brown is a jobs producer so if any state can produce jobs I would imagine that we would have the best chance. But there’s no way to tell. Not just that but the upcoming elections for the house seats will also play a big roll in what happens with the economy and after Bush was given his win by the SCOTUS there’s no way to even predict that.

IMO I believe that just by the media saying that things will get better that they do get better and vise versa, when everything on the news is doom and gloom regarding the economy then that’s what happens. I would much rather keep hearing the positive aspects or these predictions then the negative because I truly believe that this small thing can have an impact on investors, shoppers, etc..

Typo: You are forgetting your high school economics, if you do not think that it makes sense that making more money makes more jobs (in the short term). The Federal Reserve has three mandates. Here is its mission statement

“The Federal Reserve sets the nation’s monetary policy to promote the objectives of maximum employment, stable prices, and moderate long-term interest rates.”

The way that is maximizes employment is to decrease interest rates, which increases the flow of money into the economy. The government itself also tries to do this through stimulus. However this also causes inflation, and the rise in prices causes unemployment and is extremely destructive to the middle and lower classes. So using Keyenesian theory, they attempt to manipulate the interest rate and money supply to control these three things. Unfortunately for us, it’s really just a giant scam. And even if one does not want to go so far as to declare that, then at the very least it has become painfully obvious that the macroeconomic models designed to control these things are extremely extremely flawd. For the most part, the economists that you hear on TV and that work for the government are keyenesian economists, and therefore you just hear people who all believe the same thing offering slightly different versions of the outlook.

Here is an introduction into the world of an Austrian economist. You say that you don’t know how anyone can say what’s going to happen in a few months from now let alone a few years from now, including whether it is a bubble. But if you understand the actual long term implications of the actions fo the Federal Reserve, it is quite simple to predict what is going o happen, and here is some evidence for you.

Here’s a Noble Price economists that I like: He agrees that a large part of our problem (not the whole problem) is that the top 1% have our money and that they’re not spending it. In order to get the economy going we have to spend money but the middle class no longer has money to spend. He also feels that we need to think globally if we’re to fix our problems, that we should do away with the our currency and have a global currency.

Your guy ‘Peter Schiff’ has a few good points and he predicted this recession but so did a many other economists, the writing was on the wall but in the long run Schiff also has a lot of flaws in logic. Too tired to get into it but the following video speaks for it’s self. I would encourage you to watch more this guy’s lectures, he’s a bright guy and seems to have a good grasp on what’s going on:

Ah the one %’s have all the money and don’t spend it, now thats interesting, so they spent it before and now they’ve stopped, thats why we have no jobs in this state and more goverment.

No, they didn’t have most of the money before. Remember the old days when the middle class had money to spend, they bought clothes, TVs, they went down the local store to buy a new pair of shoes? You know, those people that are now living in the poverty level of income. Those clothing stores, electronic stores and shoe stores are not getting any business because we aren’t buying things. We are too busy trying to just put food on our tables. 1% of the countries population hold over 40% of this countries money. Do you not see something wrong with that? In order to have a stable economy people must spend money, it’s needs to circulate and that principle goes for California.

1% have almost half of all the money. Brown needs to reclaim some of that money.

We still have jobs in this state, globally unemployment has gone up, not just in Ca.. We are getting more jobs in Ca., that’s the point of the article. As many of the top economists say, there needs to be a free market and govt., it’s a delicate balance that was knocked out of balance primarily by the Bush admin.. Now the private sector own too much and the govt has lost all control to big corps..

Typo, the reason the middle class have no money is not because the AMOUNT of money they have decreased, it is because the VALUE of the money they have decreased. The government sector never had control of big corps, the big corps have always had control of the government. Now it’s even worse that they’re printing money to force a recovery, because what happens is that the value of the money when its printed is worth more than when it trickles down to you and I. THAT is why the 1% have so much more now.

@mkaney, the govt did have control of big corps. But since the SCOTUS decided that corps were people the govt. lost control of the corps in the way that now the corps own the politicians. So yes the govt did have some control. I’ll bet you that Obama wouldn’t have the feds jumping on the legal pot sellers if big pharma didn’t own him. Exxon and the other big corps would be paying fair taxes if the govt. had some control as they used to. When the govt did have some control those corps did pay their fair share, that’s when the govt. had some control.

I agree that there’s a problem with our currency but that’s not the reason that we’re in this jam. We need to fix the problem as to eliminate the need to print new money.