Founded in 1981, the Los Angeles County Economic Development Corporation was created by the Los Angeles County Board of Supervisors to implement L.A. County’s economic development program through land development, project financing and marketing activities.
During its history, the LAEDC has evolved from being a facilitator of the County’s industrial bond development program to being Southern California’s premier economic development organization. Just as the region’s economy has grown, so have the breadth and impact of the LAEDC’s programs and services. Let us know how we can help!
"Despite an uptick in the unemployment rate(s) here in Los Angeles County (and elsewhere in Southern California), local labor markets continue to register year-to-year declines in unemployment rates. Nonfarm (wage and salary) employment has also increased compared to a year ago. While this report is encouraging, there is some concern that federal budget cuts in the next couple of months will trigger federal government job losses as well as job losses in those private sector industries that rely on federal funds."
"There really haven’t been any surprises so far this year. The U.S. economy is growing at about two percent, with slight improvements occurring in the labor market. A slightly faster pace of growth is expected for next year. California and Southern California have been growing faster than the U.S. since the start of the year, and have added jobs more quickly than the nation. Having experienced a more severe downturn than the nation, these gains have enabled us to recover a lot of lost ground in recent months, a trend that should continue through the rest of the year and into 2014."
"Job gains here in Southern California have outpaced those of the nation in recent months. As a result, the unemployment rates of Los Angeles County and its neighbors are all in single digits. While a welcome development, unemployment rates in Los Angeles County and the Inland Empire are still well above normal long-run levels. There are concerns about the effect of sequestration budget cuts on the economy over the next few months. At this point, it appears the cuts might mute growth in Southern California, but the private sector will continue to add jobs."
LAEDC Kyser Center Chief Economist Robert Kleinhenz on the April 2013 labor and unemployment report.