Los Angeles County Showing Signs of Economic Recovery
Los Angeles County Showing Signs of Economic
Recovery
Economists are touting a moderate recovery in Los Angeles county, fueled by strength in the technology, entertainment, trade and tourism industries. In the Los Angeles County Economic Development Corporation's mid-term report, the agency says that the regional economy should continue to show signs of improvement throughout the rest of 2011 and into 2012.
Despite positive signs of growth in several key areas, however, the agency cautions that weakness in the housing market and city budget constraints will continue to hinder overall economic progress. The report also indicated that employment has stabilized in the area and is even showing signs of growth in some neighborhoods.
LA County averaged about 12.6 percent unemployment in 2010, and that rate is expected to fall to 12.2 percent this year and 11.5 percent in 2012.
Economists are touting a moderate recovery in Los Angeles county, fueled by strength in the technology, entertainment, trade and tourism industries. In the Los Angeles County Economic Development Corporation's mid-term report, the agency says that the regional economy should continue to show signs of improvement throughout the rest of 2011 and into 2012.
Despite positive signs of growth in several key areas, however, the agency cautions that weakness in the housing market and city budget constraints will continue to hinder overall economic progress. The report also indicated that employment has stabilized in the area and is even showing signs of growth in some neighborhoods.
LA County averaged about 12.6 percent unemployment in 2010, and that rate is expected to fall to 12.2 percent this year and 11.5 percent in 2012.
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