UCLA Anderson Forecast
Senior economist with the UCLA Anderson ForecastPROFILE
Jerry Nickelsburg
Guest
FROM Jerry Nickelsburg
Press Play with Madeleine Brand
Making L.A.: Manufacturing Southern California still has more manufacturing jobs that almost any place in country. The biggest industries are tourism and entertainment, but the region is significant when it comes to making stuff like transportation equipment and apparel. Today in our series “Making LA,” we look at the state of making things in Southern California.
Which Way, L.A.?
Unemployment and African Americans National unemployment is at nine percent, but among black Americans it's much higher. For blacks in California, it's 19.3 percent. The Congressional Black Caucus has been talking about job creation and the economy at job fairs and town halls in five cities around the country. LA Democrat Karen Bass is hosting the CBC event in Los Angeles tonight and tomorrow.
Which Way, L.A.?
UCLA Forecast Predicts Slow Job Growth through 2012 Unemployment in California's at record heights, but it does seem to have leveled off. What's predicted for the next couple of years is a reminder: Economics is the Dismal Science. Jerry Nickelsburg is Senior Economist at the UCLA Anderson Forecast.
Which Way, L.A.?
Will the Recession Push State Governments to Shut Down? The recession is wreaking havoc with state governments all over the country by vastly reducing the revenues they depend on from taxes on property, sales and income. Last night, Illinois, Pennsylvania, Connecticut , North Carolina , Ohio and California failed to pass balanced budgets by the start of the fiscal year.
To the Point
Will the Recession Force State Government Shutdowns? States all over the country are losing revenue. Last night, North Carolina and five other states failed to resolve disputes over taxes and spending in time for the start of the new fiscal year. Without balanced budgets, Pennsylvania and Illinois face partial shutdowns; Connecticut and Ohio are barely limping along. California has run out of money, and the biggest state in the union plans to pay its bills with IOU’s starting tomorrow. Last night in Sacramento, Republican Governor Arnold Schwarzenegger made a $24 billion shortfall $3 billion worse by blocking a stop-gap agreement with Democrats. What are the consequences for education, medical care and public health? Or is it a blessing in disguise if it forces fiscal responsibility on state capitols?
Which Way, L.A.?
California Unemployment Fund out of Money Unemployment in Los Angeles County has doubled to 9.9% in the past year. It’s almost that high statewide. But the state’s unemployment insurance trust fund is about to run out of money . In 2001, benefits were expanded, but not the tax base that pays for them. Among those who predicted a crisis were the Legislative Analyst and the California Budget Project, where Jean Ross is Executive Director. We hear from Ross and from Jerry Nickelsburg, senior economist with the UCLA Anderson Forecast.
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