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Economic recovery in LA County is slow but steady
Multilingual pamphlets with information about finding jobs are displayed at a California career center.
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Economic recovery in LA County is slow but steady
Economic recovery in LA County is slow but steady
There’s good and not-so-good news about the economic recovery in Los Angeles County.
On one hand, several sectors are giving the local economy a much needed boost — areas like the entertainment industry, high technology, international trade and tourism. It’s progress. Still, there are bit hurdles for many to leap. Like finding work.
L.A. County Economic Development Corporation chief economist Nancy Sidhu expects the unemployment rate will drop some this year, but not by much.
“I think it’s still high partly because there are so many people who use to work construction and they’re waiting for housing to turn up. I don’t have good news for them. Maybe they ought to go find something else to do for a while," she said.
The jobless rate in L.A. County hovers around 12.5 percent. Economists predict that number will fall about a percentage point next year. The Kyser Center for Economic Research cited the findings in its mid-year report.
The study emphasizes that weakness in the housing sector and government budget cuts, like those in education and health and human services, will stifle fiscal progress in L.A. County.
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