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Craving Normal Activity, Consumer Demand to Drive Growth

The economic recovery from the historic COVID-19 pandemic that began last year regained steam at the start of 2021. As a result, record savings and hot financial markets indicate an even more accelerated upturn will play out across the rest of the year, according to a Beacon Economics forecast.

“We’re not there yet, but even the most damaged industries are starting to see light at the end of the tunnel, while industries that went essentially unscathed are facing tight job markets and having trouble hiring people,” said Christopher Thornberg, founding partner with Beacon Economics.

As is the case nationally, the pace of vaccinations in California has gathered significant momentum during the past month. Importantly, the state has reached its target of administering 4 million COVID-19 vaccine doses specifically within its most disadvantaged areas, a goal that makes it easier for counties to widely reopen businesses and other public spaces. As vaccines boost consumer confidence in returning to normal activities and lead to a further easing of business restrictions, the labor market recovery in the state will accelerate, says the forecast.


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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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