As 2013 draws to a close, we take a look back to recognize the amazing strides that moved the collective “us” forward this past year. First, the Great Recession finally (finally!) ended. After six long years of little or no economic growth, this year marked the beginning of a shift in the tide toward optimism. Our national unemployment rate has dipped to 7% and is predicted to drop to 6% next year which represents near full employment for the country. And, just revised today, the national GDP grew 4.1% in the 3rd quarter of 2013 – an astonishingly strong growth rate. In California, while the unemployment remains at 8.7%, the state’s budget is predicted to have a surplus of nearly $10 billion next year. When was the last time we posed numbers like that?
On a personal note, the Supreme’s Court affirming of the invalidation of Proposition 8 and their striking down of DOMA represented a watershed moment in our nation’s history. We celebrate that our country continues to march forward to true equality for all.
We look forward to 2014 with great anticipation and excitement about a future full of opportunities and growth. This month we end the year with a guest writer, Rudy Espinosa, who is a good friend to ELP Advisors and is spearheading some of the most progressive movements in Los Angeles. Next year, we will continue to profile dynamic leaders and the work they are doing on behalf of communities throughout the country. With that, happy new year and happy holidays from all of us at ELP Advisors to you and your families!
Cecilia V. Estolano | Jennifer LeSar | Katherine A. Perez-Estolano