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November 20, 2012 | By Richard Verrier
Robert Kleinhenz, chief economist with the Los Angeles County Economic Development Corp., recently spoke with The Times about a new report on the entertainment industry's effect on the L.A. County economy. What was the purpose of the study? We know that the entertainment industry looms large on the world stage and that L.A. is the entertainment capital of the world. We said, 'Okay, how big is this industry?' This study was an effort to evaluate the size of the entertainment industry and to measure its impact on the L.A. economy in terms of jobs, income and taxes.
April 25, 2014 | Jim Puzzanghera
WASHINGTON -- Consumer confidence rebounded sharply this month to near a post-Great Recession high since 2007 as Americans were more positive about their financial situation and outlook for the economy, according to a leading private barometer released Friday. The monthly consumer sentiment index from the University of Michigan and Thomson Reuters, which is watched closely by economists and investors, rose to 84.1 from 80 the previous month. The jump surprised economists, who had expected a smaller increase to 82.5.
July 27, 2003
Re David Shaw's very good piece on the Economist (July 20): His pointing out their way with photograph captions brought to mind two very funny ones: 1. A year or so ago the magazine's cover was a photo of Kim Jong Il standing on a dais, receiving a delegation from China or the U.S. The caption: "Greetings, Earthlings." 2. A couple of years ago there was a flap in the U.K. involving a university professor who was pushing the theory that the Holocaust never happened. One of the Brit tabloids took him on; he sued it for libel and lost.
April 18, 2014 | By Shan Li
California's employers added 11,800 jobs in March, a modest increase but one that nevertheless kept momentum going in the job market. The unemployment rate, meanwhile, held steady at 8.1% from the month-earlier revised figure, the state's Employment Development Department reported Friday. "We are zig-zagging on a monthly basis. One month is strong and the next is weak," said Esmael Adibi, an economist at Chapman University. "But based on what we see at the national level, we will get much stronger growth" this year.
May 4, 2013 | By Michael Mello
Well-known Harvard professor Niall Ferguson apologized Saturday for what he called “stupid and tactless remarks” suggesting sexual orientation influenced the polices of famed economist John Maynard Keynes. On Thursday, Ferguson suggested that the British economist lacked foresight about future generations because he was childless, and that he was childless because he was gay. Ferguson made the comments during a conference in Carlsbad, Calif., during a discussion on Keynes' famous line, “The long run is a misleading guide to current affairs.
March 30, 2012 | By Marla Dickerson
Economists generally don't go into politics, which is probably a good thing for Christopher Thornberg , who has declared war on Proposition 13 . The popular 1978 ballot measure that capped property taxes in California is “one of the most horrendous, unfair, regressive taxes in the history of the United States,” the former UCLA economist declared at a televised hearing in Sacramento earlier this month. (You can view it here , starting at about 31:36 minutes.) Zap!
January 4, 1994
Last year, The Times Orange County pitted an economist against an astrologer and asked each to make predictions about the county's economy in 1993, using the tools of their respective trades.
June 26, 2012 | Bloomberg News
Anna Schwartz, an economist and coauthor with Milton Friedman of a book on monetary policy that shaped the views of central bankers including Federal Reserve ChairmanBen S. Bernanke, has died. She was 96. Schwartz died Thursday at her home in Manhattan after a long illness, said her daughter Naomi Pasachoff. The first book that Schwartz wrote with Friedman, "A Monetary History of the United States, 1867-1960," had "critical influence" on the outlook "of a generation of policymakers," Bernanke said in 2003, when he was a Fed governor.
February 13, 2012 | By Aaron Wiener, Los Angeles Times
As Europe tries to climb its way out of a debt crisis, the continent's largest and strongest economy, Germany, has pushed its neighbors to reduce budget deficits and pledge to keep long-term public spending under control. But with the Eurozone facing a recession, Germany's insistence on austerity — also known as fiscal consolidation — has drawn criticism from those who subscribe to British economist John Maynard Keynes' formula of increasing public spending during economic slowdowns to spark demand and economic recovery, and then reining in spending during prosperous times.
July 18, 2013 | By Jim Puzzanghera and Christi Parsons
WASHINGTON - President Obama's choice for replacing Federal Reserve Chairman Ben S. Bernanke probably comes down to a quiet consensus builder, who would be a historic pick, or one considered brilliant but difficult to work with. Through unprecedented policy moves and public outreach, Bernanke has dramatically expanded the role and the profile of the nation's central bank. But neither he nor the White House have indicated whether he would seek a third term or be renominated. It is widely expected, though, that Bernanke will step down when his current term expires in January.
April 3, 2014 | By Jim Puzzanghera
WASHINGTON -- Initial jobless claims unexpectedly increased last week but remained low in a positive sign for labor market growth before Friday's jobs report. About 326,000 people applied for first-time unemployment benefits in the week ended Saturday, the Labor Department said Thursday. The figure was up from 310,000 the previous week, the lowest level since September. Analysts had projected a smaller increase to 320,000 last week. PHOTOS: Richest and poorest cities in America The four-week average was little changed at 319,500 and pointed to an improved jobs situation in March.
April 2, 2014 | Shan Li
The ongoing drought in California could dampen employment growth in coming years and have a ripple effect on several industries in the state, according to a UCLA report released Wednesday. Economists said in the quarterly forecast that arid conditions in 2013, the driest year on record for the Golden State, could diminish the fishing and manufacturing sectors in the state. However, the effect depends on whether the drought is "normal" or the beginning of "a long arid period. " California's employment could be suppressed about 0.2% during the next few years because of the drought, the report concluded.
March 25, 2014 | By Jim Puzzanghera
Consumers are more optimistic about the economy than they've been in years, and that could help heat up the recovery after a deep winter chill. A closely watched barometer of consumer confidence surged this month to its highest level in more than six years. The report by the Conference Board on Tuesday added to indications that some weak economic data in recent months were caused by unusually bad weather and were not a harbinger of a more protracted slowdown. "Consumer confidence made significant progress in March, indicating that the winter economic blues … are somewhat behind us," said Chris Christopher, director of consumer economics at IHS Global Insight.
March 17, 2014 | By Michael Hiltzik
[This post has been updated, as explained below.] The restaurant industry's opposition to a higher minimum wage is hardly a secret--it's one of the top issues on the lobbying agenda of the National Restaurant Assn., the chain restaurants' Washington trade group. The mystery is why the industry seemed so loath to reveal its role in a round-robin letter signed by more than 500 economists, including four Nobel laureates, calling the proposed minimum-wage hike to $10.10 an hour a "poorly targeted anti-poverty measure.
February 18, 2014 | By Walter Hamilton
Families boosted their borrowing late last year at the fastest pace since the global financial crisis, a sign that Americans are gradually reopening their wallets as they feel more secure in their jobs. Household debt jumped $241 billion to $11.5 trillion in the fourth quarter, the biggest increase since the third quarter of 2007, according to data released Tuesday by the Federal Reserve Bank of New York. "This quarter is the first time since before the Great Recession that household debt has increased over its year-ago levels, suggesting that after a long period of de-leveraging, households are borrowing again," said Wilbert van der Klaauw, an economist at the New York Fed. The pickup in debt was a welcome development after a string of disappointing economic reports in the last few weeks.
February 7, 2014 | By Michael Hiltzik
Nobel Prize-winning economist Robert M. Solow has leveled a blast at a recent attempt by Harvard economist N. Gregory Mankiw to explain rising income inequality and the primacy of the 1% in the U.S. as the result of "just deserts" going to the talented people making important economic contributions to society. The tenor of Solow's approach can be gleaned from the opening words  of his piece, which fault Mankiw's analysis for its "unstated premises, dubious assumptions and omitted facts.
September 3, 2013 | Bloomberg News
Ronald Coase, a British-born University of Chicago economist whose Nobel Prize-winning work on the role of corporations stemmed from visits in the early 1930s to American companies including Ford Motor Co. and Union Carbide Corp., has died. He was 102. Coase, who had been the oldest living Nobel laureate, died Monday at St. Joseph Hospital in Chicago, the university announced. No cause was given. The Royal Swedish Academy of Science awarded Coase the 1991 Nobel in economics "for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy.
March 9, 1996 | From Reuters
The task of gauging the future of the economy and even not-so-distant past looked more like a roll of the dice Friday than a scientific exercise. The point was driven home when the Labor Department reported a 705,000 gain in payroll employment in February--about twice as high as economists expected. "This was a month when everyone missed the boat," said Joel Prakken, economist at the St. Louis firm Laurence Meyer & Associates Inc.
February 3, 2014 | By Ricardo Lopez
U.S. manufacturing slowed in January as new orders and inventories plunged, according to data released Monday by the Institute for Supply Management. The group's purchasing managers index dropped to 51.3 last month, down more than 5 percentage points from a 56.5 reading in December. It's the lowest index reading since May 2013.  Still, a reading above 50 indicates expansion.  "A number of comments from the panel cite adverse weather conditions as a factor negatively impacting their businesses in January," said Bradley Holcomb, chair of the Institute for Supply Management's Manufacturing Business Survey Committee.
January 31, 2014 | By Jim Puzzanghera
WASHINGTON -- Consumer confidence slipped this month amid concerns about whether the recent upturn in momentum can be sustained, according to data released Friday. The consumer sentiment index from the University of Michigan and Thomson Reuters dropped to 81.2, from 82.5 the previous month. The reading was in line with economists' projections. The January figure was well above the 73.8 level recorded for the same month a year ago, and confidence was slightly improved from the preliminary January number.
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