Report Says L.A.’s Jobs Market Lagged County, StateWednesday, October 17, 2012
The city of L.A.’s jobs market lagged the county and the state in 2011 as employment remained virtually flat through the year, according to a report released Wednesday by the Los Angeles Area Chamber of Commerce.
The report, released as part of the chamber’s annual lobbying session at Los Angeles City Hall, said that the city had 1.44 million workers employed in 2011, up 0.4 percent from 2010. However, the growth rate lagged behind the county’s 0.6 percent and the state’s 0.9 percent statewide average. And there were roughly 150,000 fewer jobs in the city than at the last employment peak in late 2007.
The report, prepared by Beacon Economics, found the highest job growth rate in Councilman Eric Garcetti’s Hollywood district; a 5 percent jump to 86,300 jobs. Councilman Ed Reyes’ district, just north of downtown, posted a nearly 10 percent drop in jobs, to 77,200.
The news was a little brighter for other economic barometers in the city of Los Angeles last year. Retail taxes jumped 8.9 percent, on top of a 5 percent increase in 2010. And gross business receipts taxes rose 3 percent, with the largest gains coming in health care and professional service categories.
On Wednesday, the chamber presented city officials with an 8-point plan to boost job growth. Among the actions recommended: phasing out the gross receipts tax, pushing ahead with the modernization of Los Angeles International Airport, reforming the pension system for city workers and building more housing for the homeless.