March 06, 2002

Entertainment in the L.A. Economy is the Focus of Next UCLA Anderson Forecast Conference

Featured Speaker Mayor Jim Hahn Will Discuss the Unique Role that the Entertainment Industry Plays in the Los Angeles Economy

Los Angeles — According to economists with the UCLA Anderson Forecast, the most distressing blows to the Southern California economy last year did not spur from the watershed September 11 attacks, but hit after 12 percent of jobs in the film and television industry were lost, accounting for 18,000 Southland employees without work. This 12 percent decline is 60 percent of all payroll jobs lost in Los Angeles County for 2001.

Addressing the importance of the entertainment industry to Southern California's economy, the next quarterly UCLA Anderson Forecast Conference will be held on March 27, 2002 from 9:30 a.m. to 3:30 p.m. Leading experts will provide up-to-date information on the state of the industry, the forces that are altering how the business is organized and conducted, and what these changes mean for greater Los Angeles.

The Honorable Jim Hahn, mayor of Los Angeles, will offer a luncheon keynote address, "There's No Business Like Show Business," in which he will discuss the role that the entertainment industry plays in the L.A. economy, the relationship between the industry and city government and the critical issues facing the city in the economic downturn.

The day-long conference will also feature two panel sessions and another keynote address by Jeffrey Berg, chairman & CEO of International Creative Management, who will provide perspective on the historical forces that created Hollywood, the strength of those forces and where the industry is heading. Panel sessions will focus on key issues surrounding the entertainment industry and will feature distinguished leaders from the entertainment world, including Jean Prewitt, president of the American Film Marketing Association, and Cody Cluff, president of the Entertainment Industry Development Corporation.

The afternoon will end with a presentation by UCLA Anderson economists, Edward Leamer and Tom Lieser, on the national and state outlook for the coming quarter. In addition, for the first time in several years, the UCLA Anderson Forecast will release a special report on the Los Angeles regional outlook that will include a detailed breakdown of Southern California counties. In years past, this report has only been made available to subscribers of the Forecast. Authored by Senior Economist Christopher Thornberg, the special report will offer proprietary data on the unemployment rate, employment growth, personal income and taxable sales in the Southland.

The UCLA Anderson Forecast Conference will be held at UCLA Anderson. For further information, including a detailed agenda and list of speakers, or to register for the conference, please call the UCLA Anderson Forecast office at (310) 825-1623 or visit the web site at http://forecast.anderson.ucla.edu. Members of the media who wish to attend the conference should contact The Anderson School's media relations department at (310) 206-7707 or via e-mail at media.relations@anderson.ucla.edu.

The 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. Most recently, the Forecast is credited as the first major U.S. group to declare the recession that began in the second quarter of 2001.

Media Relations