UCLA Anderson Forecast: U.S. recovery a long, slow climb; Calif. recovery weaker than nation's

clipped from newsroom.ucla.edu UCLA Anderson Forecast: U.S. recovery a long, slow climb; Calif. recovery weaker than nation's In its second quarterly report of 2010, the UCLA Anderson Forecast makes the case for a tepid recovery from the national recession, with unemployment levels slowly declining. In a report titled "A Homeless Recovery," UCLA Anderson Forecast director Edward Leamer notes that while expansive, free-spending consumers fueled past economic recoveries, today's "frugal consumers" cannot be counted on to power a strong recovery in the foreseeable future. "If the next year is going to bring exceptional growth," Leamer writes, "consumers will need to express their optimism in the way that really counts — buying homes and cars. And that is not going to happen if businesses continue to express their pessimism in the way that really counts — by not hiring workers."