TORRANCE TRIBUNE September 15, 2016 Page 3 Deadline for Calendar items is the prior Thursday by noon. Calendar items are $1 per word. Email listings to marketing@ heraldpublications.com. We take Visa and MasterCard. THURSDAY, SEPT. 15 • Torrance Art Museum Presents: The Gildless Age, free to the public, 11:00AM. – 5:00 PM, 3320 Civic Center Drive, Call: 310-618-6388. • Propagation Society – Planting Seeds for the Future, 10:30 AM., Madrona Marsh Nature Center & Preserve, 3201 Plaza Del Amo, free to public, Call: 310-782-3989. • Check It Out @ the Southeast Library, 3:00PM., Teens Only, Southeast Library, 23115 Arlington Ave., Call: 310-530-5044. • Teen Zone: Korean Fans, 3:30 PM., Katy Geissert Civic Center Library, 3301 Torrance Blvd., Free – Teens Only, Call: 310-618-5964. • Solar Power, 4:00 PM., Henderson Library, 4805 Emerald St., free to public, registration required, Call: 310-371-2075. • Commissioner Certification, 6:00PM., Nakano Theatre, 3330 Civic Center Dr., Call: 310-618-5880. FRIDAY, SEPT. 16 • City Hall CLOSED. • Friday Fun, 10:00 AM, Madrona Marsh Nature Center & Preserve, 3201 Plaza Del Amo, free to public, 310-782-3989. • Toddlertime, 10:15 AM and 11:00 AM, Katy Geissert Civic Center Library, Polly Watts Story Theater, 3301 Torrance Blvd, Call: 310-618-5964. • Torrance Art Museum Presents: The Gildless Age, free to the public, 11:00AM. – 5:00 PM, 3320 Civic Center Drive, Call: 310-618-6388. • FUN-tastic Fridays: Talk Like a Pirate at the Library!, 4:00PM., Katy Geissert Civic Center Library, 3301 Torrance Blvd., 310-618-5964. • Artist Reception for Al Hagen and the Pacific Art Group, 6:30 PM., Madrona Marsh Nature Center & Preserve, 3201 Plaza Del Amo, free to public, Call: 310-782-3989. SATURDAY, SEPT. 17 • Torrance Art Museum Presents: The Gildless Age, free to the public, 11:00AM. – 5:00 PM, 3320 Civic Center Drive, Call: 310-618-6388. • YMCA Low Cost Pet Vet Clinic for Dogs & Cats, 8:30 AM., Torrance-South Bay YMCA, Call: 310-325-5885. • Habitat Restoration, 8:45 AM., and Exploring Henrietta Basin, 9:00AM., Madrona Marsh Nature Center & Preserve, 3201 Plaza Del Amo, Call: 310-782-3989. • Diavolo Dance Theatre Education Company’s Newest Work: “T.R.U.S.T.”, 10:30 AM., Torrance Cultural Arts Center, 3330 Civic Center Drive, Tickets: $12, Call: 310-781-7171. • Nature Origami, 1:30 PM., Madrona Marsh Nature Center & Preserve, 3201 Plaza Del Amo, Call: 310-782-3989 • The Richard Sherman Trio In Concert, 7:00 PM., Torrance Cultural Arts Center, 3330 Civic Center Drive, Tickets: $25, Call: 310-375-4441. SUNDAY, SEPT. 18 • Katy Geissert Civic Center Library Open, 1:00 – 5:00 PM., 3301 Torrance Blvd., Call: 310-618-5964. The Recovery Isn’t Done With Us, Yet By Rob McCarthy A booming labor market has created jobs for nearly everyone who wants them and will drive salaries higher next year and ward off a recession, a newly released forecast says. Los Angeles residents are working and spending money again, which has provided economic stimulus that should carry through 2017, economist Mark Schniepp with the California Forecast Project reported last week. Jobs are being created rapidly in Southern California even as the economy starts to slow in the eighth year of recovery from the 2008 subprime-mortgage crisis. “The current expansion is old, but it’s not running on fumes. Interest rates are at record levels, the stock market is practically “A booming labor market has created jobs for nearly everyone who wants them and will drive salaries higher next year and ward off a recession, a newly released forecast says.” at record highs, we’re at full employment or certainly near it, and wages are rising,” Schniepp said last week at the 2016 Entrepreneur Economic Forecast. “We really don’t have any imbalances or bubble concerns at all, right now,” he added. The long-sustained U.S. recovery will end eventually, he noted, but the timing is just speculation at this point. The region’s economy is experiencing the most vibrant expansion in the last 30 years, Schniepp said, even joking about the abundance of work for anyone who wants it. “If you can fog a mirror, you can get a job,” he said. “If your salary isn’t rising in this labor market, something’s wrong.” The job numbers in the L.A. market are “absolutely extraordinary,” he told the audience. The surrounding L.A. area is expected to finish the year with 100,000 more jobs than it started with in January. Good things are happening all over Southern California from housing construction to tourism, and it’s reflected in the soaring confidence that consumers have about their finances. Consumer confidence peaked in August to its highest level in nearly five years on the strength of government reports showing employment dropping, incomes rising and the stock market climbing. The nation, California and L.A. County are nearly at full employment, which economists peg at about 4 percent, but Schniepp likens to “most anyone who wants a job can find one.” The booming labor market has an upside for workers, giving them some leverage to ask for a raise or look for a better-paying job. It’s expected that personal incomes will grow next year in Los Angeles County, which has experienced its most robust expansion in the past 30 years, the regional data showed. Income growth is expected to hover at around 5 percent. Almost every L.A. business sector is adding employees and generating more income, and the hospitality industry and the airports - including LAX - are feeling the surge. Current and forecasted conditions for the region include: • Unemployment near 4 percent. • Highest job growth in L.A. County in modern history. • Employment in real estate hitting alltime high. • 26,000 new apartments under construction. • Office vacancy rates falling. • Demand rising for warehouse and other industrial space for lease. “No recession. Less jobs because we all have jobs,” Schniepp predicted for 2017, explaining that government and private economists expect a “substantial” slowing of new jobs next year. Still, the Los Angeles labor market will remain one of the strongest in the nation and creating jobs, especially in the downtown area and the San Fernando Valley, at a nearrecord pace, according to the data. More than 100,000 jobs will be created this year, and a housing construction boom is underway in West Los Angeles and downtown, according to data. More than 25,000 apartment units are under construction in the Los Angeles area, the highest number in three decades. The job numbers in the L.A. market are “absolutely extraordinary,” he told the audience. The shortage of available workers could push employers toward labor-saving technology. Tasks normally performed by people would be turned over to robots due to the coming labor shortage, the regional economist said. The reason why business publications people are talking about a possible recession is that the nation’s economy - defined by the gross domestic product - is experiencing such low rates of growth this year, Schniepp said. The nation’s economy barely expanded through the midyear, moving the needle just 1.6 percent higher, largely because of falling crude oil prices that has gasoline under $3 per gallon. The downside of cheaper crude prices are layoffs and bankruptcies by U.S. exploration and refining companies in the domestic oil and petroleum industry. The consensus is that the GDP could head upward next year and keep going into 2018. “We could have one of the better years in 2017 because we won’t have the energy meltdown producing a drag on GDP,” Schniepp said. What does it mean for Los Angeles and neighboring counties? The superheated economy should start to cool, though inflation will stay below 3 percent and be partially offset by growing wages, data shows. Population in L.A. County will grow slightly less than 1 percent next year. The Federal Reserve is expected to raise interest rates sometime late this year or in early 2017 after the election, however, the California Forecast project doesn’t anticipate a change in lending rates will discourage people from buying homes. Lenders have eased their credit requirements, which regional and state economists believe will drive demand for homes and condominiums. A copy of the 2016 Economic Outlook for Los Angeles and Ventura Counties can be downloaded at www.californiaforecast. com. The report focuses on four L.A. County submarkets: West Los Angeles, Central Los Angeles, the San Fernando Valley/North Pasadena/San Gabriel Valley, and the Santa Clarita Valley. • Visit us online: www.heraldpublications.com Calendar of Events • Public Lecture (Seicho-No-le), 1:30 PM., Torrance Cultural Arts Center, 3330 Civic Center Drive, free to public, Call: 310- 323-5327. MONDAY, SEPT. 19 • Madrona Marsh Nature Center & Preserve – CLOSED. • Babytime, 10:30 AM. And 1:30 PM., Katy Geissert Civic Center Library, 3301 Torance Blvd., Call: 310-618-5964. • Teen Advisory Board, 5:00PM., Henderson Library, 4805 Emerald St., Teens only, Call: 310-371-2075. • Pajama-rama, 6:30 PM., Walteria Library, 3815 W. 242 St., Call: 310-375-8418. TUESDAY, SEPT. 20 • Torrance Art Museum Presents: The Gildless Age, free to the public, 11:00AM. – 5:00 PM, 3320 Civic Center Drive, Call: 310-618-6388. • Family Storytime, 10:30 AM., North Torrance Library, 3604 Artesia Blvd. Call: 310-323-7200. • Family Storytime, 10:30 AM., Henderson Library, 4805 Emerald St., Call: 310-371-2075. • Family Storytime, 11:00 AM., Southeast Library, 23115 Arlington Ave., Call: 310- 530-5044. • City Council Meeting, 7:00PM., City Hall, 3031 Torrance Blvd., Call: 310-618-2780. • Terrific Tuesdays: Flights of Fantasy Story Theatre, 4:00PM., North Torrance Library, 3604 Artesia Blvd., Call: 310-323-7200. • YMCA Costa Rica leadership Camp Meeting for Parents, 6:30 PM., Torrance-South Bay YMCA, 2900 W. Sepulveda Blvd, Call: 310-325-5885. WEDNESDAY, SEPT. 21 • Torrance Art Museum Presents: The Gildless Age, free to the public, 11:00AM. – 5:00 PM, 3320 Civic Center Drive, Call: 310-618-6388. • Wayback Wednesday, 10:30AM., Katy Geissert Civic Center Library, 3301 Torrance Blvd., Call: 310-781-7599. • Toddlertime, 11:00AM., El Retiro Library, 126 Vista del Parque, Call: 310-375-0922. • Adult Coloring Workshop, 12:00PM., Southeast Library, 23115 Arlington Ave., Call: 310-530-5044. • Pajama-rama, 6:30 PM., Henderson Library, 4805 Emerald St., Call: 310- 371-2075. • Pajama-rama, 6:30 PM., North Torrance Library, 3604 Artesia Blvd., Call: 310- 323-7200. THURSDAY, SEPT. 22 • Torrance Art Museum Presents: The Gildless Age, free to the public, 11:00AM. – 5:00 PM, 3320 Civic Center Drive, Call: 310-618-6388. • Become a Tour Guide at the Madrona Marsh, 10:00AM., Madrona Marsh Nature Center & Preserve, 3201 Plaza Del Amo, Call: 310-782-3989. • Propagation Society –Planting Seeds for the Future, 10:30 AM., Madrona Marsh Nature Center & Preserve, 3201 Plaza Del Amo. Call: 310-782-3989. • AAA Dare to Prepare Pre-Permit Workshop, 6:00PM., Teens, Torrance –South Bay YMCA 2900 W. Sepulveda Blvd., Call: 310-325-5885. • World Voice Book Group, 6:30 PM., Southeast Library, 23115 Arlington Ave., Call: 310-530-5044. • Follow Us on Twitter @heraldpub
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