CSULB to present economic forecast May 12

LONG BEACH - How much progress has the Southern California economy made with respect to its economic recovery? Is the region leading or lagging the national recovery? What are the prospects for the region's housing market in the near term?And, while the U.S. recovery appears to have gained some traction, it has been hit with significant headwinds ranging from the turmoil in the Middle East and North Africa, the sovereign debt problems in Europe and the devastating tsunami and earthquake in Japan. What toll will these events take on the prospect of U.S and global economic growth? These are just some of the questions that will be discussed at Cal State Long Beach's (CSULB) 17th annual Regional Economic Forecast Conference on Thursday, May 12, beginning at 7:30 a.m. at the Hyatt Regency Long Beach. Focusing on the five-county region that includes Los Angeles, Orange, Riverside/San Bernardino and Ventura counties, the 2011-12 Regional Economic Forecast will estimate employment growth rates for the region as a whole as well as growth rates for each individual county. Local business and civic leaders will be on hand for the two-and-a-half-hour event. "We are now seeing some concrete signs of recovery in the Southern California economy, but we still have a long way to go. Some sectors of the economy are coming out of recession much faster than others, and some areas of the region are leading the recovery while others lag," noted Lisa Grobar, professor of economics and director of the Economic Forecast Project. "At this year's forecast, we will be presenting data on job creation in the region that highlights these trends, and we will be discussing the prospects for future economic growth." In addition to Grobar, presenting this year's forecast will be Joe Magaddino, professor and chair of the CSULB Economics Department, and Kristen Monaco, also a professor of economics. The annual forecast is compiled through the use of comprehensive sets of data on trade, housing, employment and income. The regional effect of multiple national variables, such as interest rates, the federal budget and international trade, is also factored in. The cost for individuals to attend the conference is $125, which includes a buffet breakfast and hand-out materials. For more information about the 2011-12 Regional Economic Forecast, call the CSULB Office of Economic Research at (562) 985-5061 or e-mail oer@csulb.edu.

********** Published: May 5, 2011 - Volume 10 - Issue 3