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Old 04-29-2014, 12:12 PM
 
28 posts, read 40,584 times
Reputation: 21

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Los Angeles, Cleveland and Detroit are the only cities that have been experiencing negative job growth for two decades and Los Angeles tops them both. And we wonder why the few corporations we have left in LA seem to be heading for the exits.

Quote:
L.A. goes 23rd straight year without job growth

Los Angeles County lost more net jobs than any large metropolitan area in the nation between 1990 and 2013, due to its high cost of living, unfriendly business climate and poorly educated workforce, a new UCLA report concludes.

“To put this in perspective, L.A. has gone 23 years without positive job growth,” wrote economist William Yu in the annual forecast of UCLA’s Anderson School of Management, released today.

The county experienced a 3.1 percent decline over the period. Only two of the nation’s 32 largest cities shrank their workforces during that time: Cleveland (-0.2 percent) and Detroit (-2.8 percent).

The starkly negative report on the economic health of the nation’s largest county, with a population of 10 million, contrasted Los Angeles with nearby suburban counties and with other, more dynamic cities across the nation.

l.a. Goes 23rd straight year without job growth - l.a. Biz
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Old 04-29-2014, 12:30 PM
 
3,550 posts, read 6,467,801 times
Reputation: 3501
don't worry, there's more than an ample supply of young people moving to LA dreaming of being actors and rappers and living on the beach
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Old 04-29-2014, 12:40 PM
 
Location: The city of champions
1,830 posts, read 2,141,859 times
Reputation: 1338
It doesn't make sense though. If we are losing jobs, then why in the unemployment rate decreasing? Shouldn't the opposite be happening?

and why is this happening? L.A. Employers Added 19,000 Jobs in March | Los Angeles Business Journal

Who's right and who's wrong? Very confusing stuff.
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Old 04-29-2014, 01:08 PM
 
Location: West Hollywood, CA
1,238 posts, read 1,821,767 times
Reputation: 987
Quote:
Originally Posted by The Illusive Man View Post
It doesn't make sense though. If we are losing jobs, then why in the unemployment rate decreasing? Shouldn't the opposite be happening?

and why is this happening? L.A. Employers Added 19,000 Jobs in March | Los Angeles Business Journal

Who's right and who's wrong? Very confusing stuff.
Job decline does not automatically equate to unemployment increase. We can lose a job and the person working that job to another state.
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Old 04-29-2014, 01:13 PM
 
Location: The city of champions
1,830 posts, read 2,141,859 times
Reputation: 1338
Quote:
Originally Posted by bpeeps View Post
Job decline does not automatically equate to unemployment increase. We can lose a job and the person working that job to another state.
It's all quite confusing to be honest. I mean, you have a report like his saying LA is losing jobs, and I've seen other reports like that, but then I see reports showing our unemployment rate decreasing and reports like the one posted showing we added 19,000 jobs in March. I mean, what can we believe?
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Old 04-29-2014, 01:32 PM
 
1,940 posts, read 3,543,078 times
Reputation: 2121
The unemployment rate is going down (at least it was) and LA county has more people than it has ever had. So at what point will this negative job growth translate into cheaper rent and housing?? When will I be able to afford the kind of newer nicer apartment I had in Texas with rent under 2k? I hope soon...
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Old 04-29-2014, 01:43 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,324,858 times
Reputation: 12313
Maybe why we pay out 2x our 'share' in Welfare based on population?...
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Old 04-29-2014, 01:44 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,324,858 times
Reputation: 12313
Quote:
Originally Posted by timtemtym View Post
The unemployment rate is going down (at least it was) and LA county has more people than it has ever had. So at what point will this negative job growth translate into cheaper rent and housing?? When will I be able to afford the kind of newer nicer apartment I had in Texas with rent under 2k? I hope soon...
Many of those rents are probably being paid by money generated outside the state or country.
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Old 04-29-2014, 01:46 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,324,858 times
Reputation: 12313
Quote:
Originally Posted by yamota View Post
don't worry, there's more than an ample supply of young people moving to LA dreaming of being actors and rappers and living on the beach
Yeah many of the posters that post on CD wanting to move to L.A are from out of state in their late teens or early twenties without skills and usually without education whose plan is to move here and are fine with living in their cars as a backup plan.
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Old 04-29-2014, 02:06 PM
 
Location: Downtown LA
1,192 posts, read 1,634,111 times
Reputation: 868
Quote:
Originally Posted by bpeeps View Post
Job decline does not automatically equate to unemployment increase. We can lose a job and the person working that job to another state.
That's true..if our population was stable or decreasing. But our population has been growing rather dramatically. The following cannot simultaneously occur:

1. Increasing population
2. Decreasing unemployment rate
3. Stagnant or negative job growth

At least one of those premises must be false.
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