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Old 09-17-2010, 01:50 PM
 
Location: Los Angeles
749 posts, read 1,655,890 times
Reputation: 423

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I am NOT an LA basher but there is one statistic about LA County's economy that I find very troublesome.

The total number of non-farm jobs as of August 2010 is at the LOWEST point since 1994 when the region was last hit hard by recession (and riots, earthquake, etc).

The data below show the TOTAL number of jobs in LA County at the peaks and troughs of the last 2 economic cycles.

LA COUNTY
Total Non-Farm Employment
1990: 4,135,700 (peak)
1994: 3,701,900 (low point)
2000: 4,072,100 (peak)
2003: 3,982,900 (low point)
2007: 4,122,100 (peak)
2010: 3,713,900 (as of August, 2010)

Source: Calif. Emp. Development Dept.

The MOST troubling stat is that LA County NEVER regained the total number of jobs it had in 1990, at the end of the 1980's boom. Yet, we only had 8.8 million people here then. Today, we have approx. 10.4 million residents.

Granted there are a lot of "independent" contractors in the LA economy today (and there were much fewer in the 1980's). These types of "jobs" do not show up in the government's official employment survey.

Nevertheless, that is a BIG discrepancy between job growth (or loss) and population gain.

Anyone want to shed some positive light and tell me it's better than it looks, please go right ahead??????
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Old 09-17-2010, 03:28 PM
 
Location: Living on the Coast in Oxnard CA
16,252 posts, read 28,154,147 times
Reputation: 21614
The areas unemployment rate is going up along with the states unemployment rate. AS far as I know the nation is following a similar trend. Your numbers are not accounting for the many that retire and are not any longer part of the working class. The Baby boom started in the 1950's I think and those babies are all getting ready to retire. One third of the workforce will retire between now and the next 15 years. With people living longer this will account for the numbers on why more people are here but fewer jobs are available.
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Old 09-17-2010, 03:36 PM
 
Location: Dalton Gardens
2,814 posts, read 5,774,418 times
Reputation: 1639
Plus, we now have more automation and computerization, which means less jobs for actual human beings.
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Old 09-17-2010, 04:06 PM
 
Location: Los Angeles
749 posts, read 1,655,890 times
Reputation: 423
Quote:
Originally Posted by SOON2BNSURPRISE View Post
The areas unemployment rate is going up along with the states unemployment rate. AS far as I know the nation is following a similar trend. Your numbers are not accounting for the many that retire and are not any longer part of the working class. The Baby boom started in the 1950's I think and those babies are all getting ready to retire. One third of the workforce will retire between now and the next 15 years. With people living longer this will account for the numbers on why more people are here but fewer jobs are available.
Good point...the aging of the baby boom, etc.

Still suprised by looking at the numbers: comparing the 1990 Census to an "estimate" from 2009, the share of the population 65 or older in LA County increased from about 9.7% to 10.9%. I am sure that explains at least some of it.

The 18 and under population has remained pretty much the same as a proportion from 1990 to 2009 (which suprised me). Of course, we'll see what the 2010 Census says next year.
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Old 09-17-2010, 09:50 PM
hsw
 
2,144 posts, read 6,513,461 times
Reputation: 1530
Gubberment stats are always dubious

LA has a massive underground economy w/many illegal sweatshops and other dubious "small businesses"

When enough taxpayers get fed up, they'll elect politicians who will try to downsize the welfare state

Until then, smart employers and workers will fully price CA taxes and costs vs its brilliant coastal QOL for high-income workers who can choose to live/work nr SantaMonica/BevHills or PaloAlto...and ship lesser jobs to more efficient locales in TX or RoW

Fewer economic underachievers and taxpayer parasites in CA will ultimately make CA a better place in which to live and work...
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Old 09-18-2010, 01:14 AM
 
Location: Los Angeles
749 posts, read 1,655,890 times
Reputation: 423
Quote:
Originally Posted by hsw View Post
Gubberment stats are always dubious

LA has a massive underground economy w/many illegal sweatshops and other dubious "small businesses"

When enough taxpayers get fed up, they'll elect politicians who will try to downsize the welfare state

Until then, smart employers and workers will fully price CA taxes and costs vs its brilliant coastal QOL for high-income workers who can choose to live/work nr SantaMonica/BevHills or PaloAlto...and ship lesser jobs to more efficient locales in TX or RoW

Fewer economic underachievers and taxpayer parasites in CA will ultimately make CA a better place in which to live and work...
New York City has as bigger welfare state than Los Angeles yet its unenmployment rate is on PAR with or BELOW the national average.
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