Speaker: Tyler Laferriere, Research Analyst with LAEDC Institute for Applied Economics
Topic: A Landscape for Opportunity: The 2018 Economic Outlook for the South Bay
This presentation explores the health, condition and trajectory of the national, California and Los Angeles county economies with emphasis on the South Bay county sub-region and its specific economic nuances. The general theme of the narrative presented here is one of solid economic fundamentals amalgamated with cautious optimism for future growth. Across all geographic delineations, the economy continues to grow solidly: jobs are being added; unemployment is low; the U.S. dollar is strong; and real wages are rising to levels close to if not on parity with pre-recession levels. However, a note of restraint: job creation is occurring in a bimodal fashion with both high-income and low-income jobs in sectors like bioscience, health care, information, financial activities and insurance, and hospitality are being added while traditional middle-income manufacturing and logistics employment is increasingly eclipsed by automation. There are, however, grounds for confidence: middle-income jobs exist and policymakers are responding with collaborative efforts to bridge the gap between business demand and labor supply. Specifically, the South Bay should be hearted by an average level of education higher than that of the county at large, the buzz of high business activity and, on average, unemployment lower than the county average. Moreover, homebuilding is on the upswing in an effort to address chronic housing shortages despite high prices and high demand. This presentation offers evidence to this economic tale of challenge and opportunity as the region progresses into this new millennium.
ABOUT OUR SPEAKER
Tyler Laferriere is a research analyst at the Institute for Applied Economics at LAEDC. He joined LAEDC in December of 2017 directly after finishing graduate studies at Washington State University. His work portfolio at IAE includes data management and analysis; model building and forecasting; drafting economic reports; copy editing IAE drafts; and performing economic impact analyses. His research focuses include data management, economic forecasting, economic policy studies, labor and occupational research and economic impact studies.
Before joining LAEDC, Mr. Laferriere was a graduate student at Washington State University pursing joint degrees in applied economics and statistics. His graduate education also included internships with the Federal Reserve Board and USDA Economic Research Service in Washington, D.C., focusing in the former on consumer spending patterns and the latter on technological adoption models. His applied economics master’s thesis involved a cross-sectional study on work-life policies aimed at improving gender balances in economics and applied economics. He also worked extensively in student affairs and as a copy editor and columnist for the WSU newspaper, the Daily Evergreen.
As mentioned above, Mr. Laferriere received his Master of Science degrees in Applied Economics and Statistics from Washington State University. He also holds a Bachelor of Science degree in Economics and Bachelor of Arts degree in Political Science from Gonzaga University. Originally a native of Phoenix, Arizona, he enjoys all manner of outdoor and warm weather activities such as running, tennis, hiking and swimming in addition to the culinary arts and cinema. As might be inferred from his journalistic background, he is also politically active and an avid consumer of news media.