Beacon: Economy Goes Out With a Bang

LOS ANGELES—According to the end-of-the-year Beacon Economics report, 2014 saw great economic expansion, despite a slow start. The report predicts that this economic expansion will slow somewhat in 2015, but adds that the economy will still perform moderately better than it did this year.

Job growth was the catalyst of the economic expansion. Throughout the year, 250,000 new jobs were created each month nationally, with California alone getting 319,000 new non-farm jobs from the 12-month period between October 2013 and October 2014. The Beacon Economics forecasters explained that nearly every job sector experienced employment growth this year.