Ambassador of the Month Archive

2019 Will ‘Be a Good Year,’ Economist Says

Wednesday, January 16, 2019

“It’s going to be a good year. Things are wonderful. You’re going to have a great 2019,” said expert economist and Greater Irvine Chamber Business Outlook keynote Chris Thornberg of Beacon Economics. In his economic forecast presented to more than 600 business and community leaders, Thornberg, who predicted the housing market crash in 2007, expressed overall optimism regarding economic growth in the year ahead. He attributed his positive outlook to rising wages, low unemployment, and increased consumer spending. Also confident moving into the new year was opening speaker Chris Schwarz of the UCI Paul Merage School of Business, who broke down recent...

Tourism Industry Jobs Form Big Piece of California’s Economic Foundation

Tuesday, January 15, 2019

By Terry MacRae, 2018 chair of the California Chamber of Commerce Board of Directors, commissioner on the Visit California Board of Directors, chief executive officer, president and founder of Hornblower Cruises & Events. Vacations to California’s natural wonders, cultural riches and exciting city attractions fuel stable employment and the world’s fifth largest economy. Regardless of where travelers go and what they do in California, vacations are more than memories—they also spur one of California’s strongest economic pillars. In fact, tourism drove $132 billion in travel-related spending in 2017, generating $11 billion in state and local tax revenues. Running a cruises and events company...

Newsom Elevates Labor Commissioner Su to Head State Agency; Picks Business Founder/Forward Thinker as Chief Economic Adviser

Monday, January 14, 2019

The team Governor Gavin Newsom has selected to lead key efforts in his administration includes individuals with many years of experience in both governing and advising policymakers. Two appointments of particular interest to employers are: • Julie Su, state Labor Commissioner in the Brown administration, as secretary of the California Labor and Workforce Development Agency (LWDA); and • Lenny Mendonca, longtime advocate for rethinking government operations as co-chairman of the nonprofit organization California Forward, as chief economic and business adviser and director of the Governor’s Office of Business and Economic Development (GO-Biz). As labor commissioner and chief of the Division of Labor Standards Enforcement...

US Payrolls Rise 312,000, Wages Accelerate in Jobs Blowout

Friday, January 04, 2019

U.S. employers added the most workers in 10 months as wage gains accelerated and labor-force participation jumped, reflecting a robust job market that nevertheless faces mounting risks in 2019. Nonfarm payrolls increased by 312,000 in December, easily topping all forecasts, after an upwardly revised 176,000 gain the prior month, a Labor Department report showed. Average hourly earnings rose 3.2 percent from a year earlier, more than projected and matching the fastest pace since 2009. Meanwhile, the jobless rate rose from a five-decade low to 3.9 percent, reflecting more people actively seeking work. The dollar surged, U.S. stock futures remained higher and Treasuries...

CalChamber Poll: Optimism on Jobs, Anxiety over Cost of Living

Wednesday, December 19, 2018

California voters are feeling better about the economy, but are still anxious about the cost of living, according to the recently released 2018 CalChamber Poll. Nearly two-thirds of voters say that more new jobs have been created where they live, up steadily from just 43 percent in 2015. Job increases have been noticed in every region of the state, including inland California. In addition to more new jobs overall, voters statewide say that most of the jobs being created lead to higher pay, as opposed to being dead-end jobs. A majority of residents in every region of the state, except the Inland...

Southern California Office Markets Offer Diverse Choices for Expanding Businesses

Tuesday, December 18, 2018

By Arlyn Stoik, Principal, Avison Young After more than 24 years in commercial real estate, Avison Young has never been more excited by the multiple, diverse options for expanding businesses in Southern California. Many of us have heard about Southern California’s booming economy. When we focus on commercial real estate, however, we get a much clearer picture of the industries, properties, regional markets, and undiscovered opportunities that underlie the region’s prosperity and promise. It is a region ideally suited to a broad range of users with a diversity of real estate needs. Commercial real estate touches every industry and all of our...

Strong Jobs Growth in October Powers US Economy Forward

Monday, November 12, 2018

The Coalition for a Prosperous America (CPA) praised the latest monthly jobs report, which shows that the U.S. economy continues to grow strongly and create jobs. However, a September trade deficit running 21 percent worse than a year ago means urgent action is required on the trade front. The monthly jobs summary reported 250,000 new jobs in October, including 32,000 new manufacturing jobs. So far this year, U.S. manufacturing has added 296,000 jobs, the best record since 1995. Unemployment remains at a historically low level of 3.7 percent, while 3.1 percent growth in average hourly earnings has finally broken through the 3 percent threshold. Unfortunately, the latest federal data also reveals serious...

Ambassador of the Month Archive

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