December 2015 Economic Outlook

December 2015 Economic Outlook


UCLA Anderson Forecast: FED Expected to “Normalize” Interest Rates While Job Growth and Wage Increases Drive Consumption and Push Real GDP Growth Past 3.0%

California Forecast Expects Steady Gains In Employment Through 2017

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Office-Using Employment Growth Across Cities, 2000 to 2015

In this report, we will discuss the growth of office using employment across metropolitan areas in the U.S. from 2000 to 2015. Office-using employment includes three major sectors: (1) information, (2) financial activities, and (3) professional and business services.

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UCLA Anderson Forecast


Industrialize Your Job Now

UCLA Anderson Distinguished Professor of Decisions, Operations, and Technology Management Uday Karmarkar addressed the December edition of the UCLA Anderson Forecast conference, self-referencing as a humble “tourist” among the gathered economists and followers of the forecast. Forecast Director Edward Leamer introduced him following a discussion of robotics and other forms of automation in the traditional workplace, but said of Karmarkar, “He doesn’t have to worry about robots taking his job anytime soon.”

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Forecast: Fed Expected to “Normalize” Interest Rates While Job Growth and Wage Increases Drive Consumption

UCLA Anderson Forecast’s fourth 2015 quarterly economic report for the United States says the Federal Reserve will start to normalize interest rates as its prolonged “zero interest rate” policy reaches its end, with the most recent financial crisis long over and the unemployment rate indicating near full employment. In California, the there is no indication of any slowdowns or declines in the continuing growth of both employment and income in California and, in fact, the employment sector will grow throughout the forecast period.

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National Outlook

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State Outlook

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Local Outlook

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This Expansion is Progressing So Slowly

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Software, Robots and What Kind of People? The Evolving Personal Requirements of the Traditional Office

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Uday Kumarkar
Keynote Speaker: Uday Karmarkar
Distinguished Professor in Decisions, Operations, and Technology Management, UCLA Anderson School;
L.A. Times Chair in Technology and Strategy;
Founder and Director, UCLA Anderson Business and Information Technologies Project (BIT)
Executive Dining Room, UCLA Anderson School
Wednesday, December 2, 2015 | 8:00 - 11:45 a.m.
Register Now
Price: $195 | Seating is limited. Online registration closes 11:59 p.m. on 11/30/2015
December 2015 Economic Outlook
8:00 - 8:50a Registration
8:50 - 9:45a UCLA Anderson Forecast for the Nation and State
9:45 - 10:00a Office Using Equipment in Los Angeles
10:00 - 10:15a Structural Change and the Past Three Recessions
10:15 - 10:30a Break
10:30 - 11:00a The Industrialization of Services
11:00 - 11:45a Panel: Software, Robots and What kind of people? The Evolving Personal Requirements of the Traditional Office
11:45a Wrap-up and Closing
Key Topics
Will the Fed raise interest rates in December?
Was the anemic real GDP growth rate of 1.5% the result of a short inventory cycle or did it signal a real slowdown?
Is housing still on track to record 1.4 million starts in 2016?
How have office-using jobs change across cities since 2000?

Edward Leamer, Director, UCLA Anderson Forecast

David Shulman, Senior Economist, UCLA Anderson Forecast

Jerry Nickelsburg, Senior Economist, UCLA Anderson Forecast

William Yu, Economist, UCLA Anderson Forecast

David Osias, Managing Partner, Allen Matkins

James Peters, Vice President, New Market Initiatives, Legalzoom and Global Advisory Board Member of Laws Without Walls

Corinne Bendersky, UCLA Anderson School

Karl Brier, Executive Director and Division Manager, Los Angeles Middle Market, J.P. Morgan Chase

Elizabeth Brink, Senior Associate Strategist, Gensler


UCLA Anderson Forecast