Los Angeles

Economy

Los Angeles is the seat of the top-ranked manufacturing county in the nation, producing a diverse array of items including aircraft and aircraft equipment, games and toys, gas transmissions and distribution equipment, guided missiles, space vehicles and propulsion units, and women's apparel. Service is the major employment sector, employing roughly one-third of the county's nonagricultural wage and salary workers. In 1998 the top employers in the county were county government, the Los Angeles Unified School District, the U.S. government, UCLA, and the U.S. Postal Service.

The economy of the city of Los Angeles is highly diversified, with strong sectors in services, wholesale and retail trade, manufacturing, government, financial service industries, transportation, utilities, and construction. The entertainment and tourism industries also contribute significantly to the economy. The trade volume of its busy port is the highest in the nation and one of the highest in the world.

The Los Angeles economy took a downturn—together with the rest of California—in the early 1990s but rebounded later in the decade.