LAEDC’s 2013-2014 Mid-Year Economic Forecast Event
Los Angeles, CA (PRWEB) July 17, 2013 -- The Los Angeles County Economic Development Corporation (LAEDC) will be holding its 2013-2014 Mid-Year Economic Forecast and Industry Outlook on Wednesday, July 17, 2013 at the L.A. Hotel Downtown. The event theme is the Future of Energy in the Southland. Moderated by KNX 1070 Business Hour reporter, Frank Mottek, the event will address the economic outlook for Los Angeles County and key industry sectors as well as forecasts for the global and national economies, California and the Southern California region.
Kyser Center for Economic Research, Chief Economist, Dr. Robert Kleinhenz will be joined by two leading authorities who will offer their perspectives on the important subject of innovation in energy and its impact on the future of the Southland:
• Rob Gardner, Manager Economics & Energy Division with ExxonMobil Corporation will present The Outlook for Energy: A View to 2040. The Outlook reveals key findings about how we use energy, how much we will need in the future and what types of fuels will meet demand.
• Dr. Nate Lewis, George L. Argyros Professor of Chemistry, DOE Energy Innovation Hub in Fuels from Sunlight at Caltech, will speak on innovation in the development of reliable energy resources.
Frank Mottek, host of KNX 1070’s Business Hour, will return as master of ceremonies.
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PRESS INVITED
Media and credentialed press are invited to attend the Forecast free of charge. A complimentary breakfast is included. You can find event and parking information along with detailed bios of the speakers here: http://laedc.org/events-page/mid-year-economic-forecast/
EVENT DETAILS:
Date – Wednesday, July 17, 2013
Time – 7am to 8am - Networking Breakfast
8am to 10:30am - Program
Location – L.A. Hotel Downtown | 333 S. Figueroa Street | LA, CA 90071
Parking - http://laedc.org/events-page/mid-year-economic-forecast/#parking
PRESS INTERVIEWS
Kyser Center Chief Economist Dr. Robert Kleinhenz and guest speakers will be available before and after Wednesday morning’s event. Press are welcome to attend free of charge.
ABOUT THE 2013-2014 MID-YEAR FORECAST REPORT
The LAEDC’s Economic Forecast is Southern California’s premier source for in-depth economic information and analysis on global, national, state and regional economies. The Forecast report released at the Mid-Year Economic Forecast event on July 17th, is produced by the LAEDC’s Kyser Center for Economic Research, led by its Chief Economist, Dr. Robert Kleinhenz. The 2013 Mid-Year Economic Report offers an update on the outlook for the global, national, state, and regional economies as well as key industry sectors of the regional economy. Significant findings of the report include:
The U.S. Economy
• Slow growth for the remainder of 2013, accelerating in 2014
• Continuing improvement in the labor markets
• Minor inflation threat
• Consumer sector will show strength; wealth levels are up and access to credit is improving
• Risks: uncertainty regarding economic problems in Europe and slower economic growth among key trading partners; continuing drag on economy from U.S. fiscal policy
The California Economy
• Private sector job gains, unemployment rate down gradually but steadily
• Housing and construction up substantially
• Risks: Near-term drag on state and local economies from sequestration budget cuts; supply-constrained price increases and increasing rates take edge off gains in the housing sector
The Southern California Economy
• Regional economy continues to improve, but unevenly across counties and industries
• Private sector expansion continues, but labor market recovers at a slow pace
“There really haven’t been any surprises so far this year,” said Robert Kleinhenz, LAEDC Chief Economist. “The U.S. economy is growing at about two percent, with slight improvements occurring in the labor market. A slightly faster pace of growth is expected for next year. California and Southern California have been growing faster than the U.S. since the start of the year, and have added jobs more quickly than the nation. Having experienced a more severe downturn than the nation, these gains have enabled us to recover a lot of lost ground in recent months, a trend that should continue through the rest of the year and into 2014.”
ABOUT THE LAEDC
The LAEDC, the region’s premier economic development leadership organization, is a private, non-profit organization established in 1981 under section 501(c)(3). Its mission is to attract, retain, and grow business and jobs for the regions of Los Angeles County. Since 1996, the LAEDC has helped to retain or attract nearly 180,000 annual jobs in Los Angeles County with an estimated labor income, including wages and benefits, of $11.0 billion. Taken together with the supported indirect and induced economic activity, a total of more than 400,000 annual jobs with labor income of more than $21 billion were impacted, accounting for an estimated $850 million in property and sales tax revenues to the County of Los Angeles.
For Interviews and more information, please contact:
George Entis – 213-236-4820
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George Entis, Los Angeles County Economic Development Corporation, http://www.laedc.org, 213-236-4820, [email protected]
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