Is California's Future Still Golden?
From Jeff Layne
Faculty and Executive Director of the Center for Economic Research and Forecasting,
California Lutheran University
Dr. Watkins is an expert on economic forecasting. In this presentation, he talks about factors affecting the California economy, including the 2013 Congressional “sequester.” He identifies California trends of recent years, including a higher rate of people moving out of the state, a declining birthrate, a lower percentage of the U.S. economy produced, a population dichotomy of old/rich and young/poor, and a high percentage of Californians on public assistance. In his economic forecast for California, he predicts modest output growth, weaker job growth, and persistent high unemployment. Dr. Watkins also offers his ideas on how to make the forecast more positive.
Recorded: March 8, 2013