Economic Trends 2022 (Recap)

February 17, 2022

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Los Angeles Business Journal Economic Trends Event Banner

The Los Angeles Business Journal was excited to host the 2022 Economic Trends virtual event on Wednesday afternoon, February 2nd.

The event featured three lively virtual panel discussions featuring leading experts on the hottest topics on the minds of LA area business leaders at the start of this year. The panels offered an insightful look back on the unprecedented challenges and silver linings of the past couple of years while providing a deep dive into the economic trendws we are facing moving forward.

Our outstanding group of panelists and moderators examined the issues as they shared their experiences and predictions for the year to come. The panels this year focused on the hot-button topics of “Real Estate: A Tale of Two Cities,” “The Changing Workforce and Labor Shortages,” and “Rebalancing the Economy,” with expert insights and analysis about the impact current trends are likely to have on the overall economic climate.

Many thanks to our excellent panelists, who took the time to share their insights on the biggest headlines and where the market is going in 2022.

PANELISTS & TOPICS

Real Estate: A Tale of Two CitiesModerated by Jim Kruse, Chief Executive Office of DPI Retail

Daniel Allen

Group Head of Real Estate & Healthcare for the Western Region
Bank Leumi USA

“In times of uncertainty, I focus on the fundamentals – cash flow, barriers to entry, replacement cost, and above all else… I always find a way to do business with a great sponsor.”

Mike Kendall

Executive Managing Director, Investor Services | Western Region
Colliers

“The last 18-24 months have proven how crucial US industrial real estate inventory is to everyday life. Capital in both the private and public sector has taken note, and the demand indicates a positive outlook for the property type both in the near and long term.”

Andy Meyers

Chief Executive Officer
Shangri-La Construction

“This moment calls on us to create a new paradigm between the public and private sector. When the government and private industry come together to solve complex problems and deliver services to our communities, we can confront our housing crisis head-on.”

Kamran Paydar

First Vice President
CBRE

“The Los Angeles multifamily market saw significant improvement in 2021 after experiencing the worst conditions in 2020 in over a decade. All indicators point to a strong 2022 with rising rents, lower vacancy and continued price appreciation.”

Changing Workforce + Labor ShortagesModerated by Peter Strotz, Managing Partner, King & Spalding

Veetahl Eilat-Raichel

Co-Founder & CEO
Sorbet

“The concept of PTO is in dire need of disruption. The way it’s currently constructed has proven to be a massive market failure and inefficient for both businesses and employees.”

Branden Grimmett, Ed.D.

Associate Provost, Career and Professional Development
Loyola Marymount University

“College students have been juggling in-person and remote learning over the past 23 months. The silver lining is that this is great preparation for our current work reality.”

Felicia Lyon

Principal, Human Capital Advisory
KPMG LLP

“The future of work is now. To thrive, organizations must embrace digital technology and analytical capacity, maintain connectivity with a highly distributed workforce, and engage our people in new ways.”

Peter Strotz

Managing Partner
King & Spalding

“Perks and bonuses are always nice, but to attract top talent, businesses must offer paths to career development and the ability to achieve accomplishments as part of a great team.”

Rebalancing The EconomyModerated by Josh Schimmels, Publisher & CEO of the Los Angeles Business Journal

Leo Feler, PhD

Senior Economist, UCLA Anderson Forecast
UCLA Anderson School of Management

“In 2021, the economy was still bouncing back from the depths of the pandemic. 2022 now presents more complex challenges – snarled supply chains, high inflation, slowing growth, and worker shortages. As the COVID threat wanes, we’ll get more clarity on what the post-pandemic economy will be like.”

David Lam, CISSP, CPP

Partner & CISO
Miller Kaplan

“I like to think of information security managers in the same way I do my CPA—someone who understands the nuance and makes it easier to do the right thing.”

Luan Tran

Partner
King & Spalding

“Companies should take the recent supply chain disruptions as an opportunity to review their supplier agreements to see how those agreements may offer more advantageous terms.”

Inside This Supplement

A Closer Look at the Economic Forecast for 2022
The Greater Los Angeles industrial market has undoubtedly experienced a remarkable shift over the last year… Read More

The Big Quit: Why Employee Wellness Should Be Prioritized Now More Than Ever
As the world braces for the two-year anniversary of the March 2020 lockdown, it is hard not to notice the vast changes… Read More

The Time is Now for California Companies to Focus on Diversity
In 2022, companies will continue to grapple with implementing diversity initiatives at their organizations… Read More

Los Angeles Area Chamber of Commerce Launches CEO Council
More than one hundred regional CEOs and senior level executives have joined or committed to join the CEO Council… Read More

Information Security: Lessons in Continual Improvement
I was first drawn to information security because it reminded me of the Mad Magazine Spy Versus Spy series… Read More

California Awards $150 Million in Tax Credits
In November, the Governor’s Office of Business and Economic Development (GO-Biz) announced $150 million… Read More

Project Homekey Creates Housing for the Most Vulnerable Population
Cheryl and Billy Ray are just two of the state’s formerly homeless who say they’ve found hope after finding their home… Read More

Controller Reports L.A.’s Finances as Solid, but Not Without Challenges
Controller Ron Galperin on January 27th released L.A.’s Annual Comprehensive Financial Report for Fiscal Year 2021 — July 1, 2020 to June 30, 2021… Read More

University Graduates are Prepared to Succeed in the L.A. Job Market
At Loyola Marymount University, graduating seniors tell us they seek work mode flexibility (hybrid or remote)… Read More

Environmental Justice Takes Center Stage in California and Across the Country
The Biden Administration’s Environmental Protection Agency defines Environmental Justice (EJ) as “the fair treatment and meaningful involvement… Read More

Global Growth to Slow through 2023
Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats… Read More

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