L.A. County Economy on the Rebound - New York News

L.A. County Economy on the Rebound

Posted: Updated:

(FOX 11/CNS) - Los Angeles County's economy is rebounding, with signs pointing to a full recovery, according to a new study.

That is good news for California since L.A. County alone contributes more than a quarter of the state's total economic output, according to a report issued by the National Association of Counties and cited by the Los Angeles Times.

The study took a look at local economies around the nation on a county level by tracking the performance of some 3,069 counties through four indicators -- economic output, employment, the jobless rate and home prices.

In 2013, Los Angeles County's economic output surpassed pre-recession levels, thanks in large part to better-paying industries such as business and telecom services, the report said, according to The Times.

But the service industry continues to dominate the county's economy, employing almost 75 percent of the workforce, the report says. The real estate industry and business services are also big drivers, delivering nearly a third of the area's output.

A rebounding housing market and improved country budget also point to an economy that is not only on the mend but also one that could see accelerated growth, the report said.

Economic recovery was seen across all regions, with many counties reporting at least modest growth in output, jobs and house prices, according to The Times.

  • Local NewsLocal NewsMore>>

  • Camilla's brother dies in New York after head injury

    Camilla's brother dies in New York after head injury

    Wednesday, April 23 2014 11:04 PM EDT2014-04-24 03:04:50 GMT
    The brother-in-law of the Prince of Wales died Wednesday after falling outside a hotel bar and suffering a head injury, police said. Mark Shand, the brother of Prince Charles' wife, Camilla, Duchess of Cornwall, was in New York for a charity auction at Sotheby's.
    The brother-in-law of the Prince of Wales died Wednesday after falling outside a hotel bar and suffering a head injury, police said. Mark Shand, the brother of Prince Charles' wife, Camilla, Duchess of Cornwall, was in New York for a charity auction at Sotheby's.
  • Deep split in Port Authority over unfinished WTC tower

    Deep split in Port Authority over unfinished WTC tower

    Wednesday, April 23 2014 9:03 PM EDT2014-04-24 01:03:40 GMT
    Board members of the Port Authority of New York and New Jersey revealed a deep split Wednesday over the agency's role in effecting the completion of the long-delayed 3 World Trade Center project, with some commissioners lauding the effort and others expressing grave concerns. The discussion at the monthly board meeting offered a rare glimpse into the negotiations that have been going on behind the scenes in recent months.
    Board members of the Port Authority of New York and New Jersey revealed a deep split Wednesday over the agency's role in effecting the completion of the long-delayed 3 World Trade Center project, with some commissioners lauding the effort and others expressing grave concerns. The discussion at the monthly board meeting offered a rare glimpse into the negotiations that have been going on behind the scenes in recent months.
  • God's Love We Deliver virtual bake sale for birthday cakes

    God's Love We Deliver virtual bake sale for birthday cakes

    Wednesday, April 23 2014 6:36 PM EDT2014-04-23 22:36:46 GMT
    God's Love We Deliver provides meals to people in the New York City area who are too sick to shop and cook for themselves. Clients also receive birthday cards that are decorated by local school students. Sometimes a cake is the only birthday gift that God's Love's clients will receive.
    God's Love We Deliver provides meals to people in the New York City area who are too sick to shop and cook for themselves. Clients also receive birthday cards that are decorated by local school students. Sometimes a cake is the only birthday gift that God's Love's clients will receive.
  • Share ThisMore>>

  • Teen Okay after Hiding In Wheel Well Of Jet Bound For Hawaii

    Teen Okay after Hiding In Wheel Well Of Jet Bound For Hawaii

    Teen Okay after Hiding In Wheel Well Of Jet Bound For Hawaii

    Tuesday, April 22 2014 10:21 PM EDT2014-04-23 02:21:57 GMT
    Officials say a 16-year-old boy is "lucky to be alive" and unharmed after flying from California to Hawaii stowed away in a plane's wheel well, surviving cold temperatures at 38,000 feet and a lack of oxygen. "Doesn't even remember the flight," FBI spokesman Tom Simon in Honolulu told The Associated Press on Sunday night. "It's amazing he survived that." The boy was questioned by the FBI after being discovered on the tarmac at the Maui airport Sunday morning with no identification, Simon said...
    Officials say a 16-year-old boy is "lucky to be alive" and unharmed after flying from California to Hawaii stowed away in a plane's wheel well, surviving cold temperatures at 38,000 feet and a lack of oxygen. "Doesn't even remember the flight," FBI spokesman Tom Simon in Honolulu told The Associated Press on Sunday night. "It's amazing he survived that." The boy was questioned by the FBI after being discovered on the tarmac at the Maui airport Sunday morning with no identification, Simon said...
  • Anaheim's Wonderful WonderCon

    Anaheim's Wonderful WonderCon

    Monday, April 21 2014 10:58 AM EDT2014-04-21 14:58:42 GMT
    It was Easter weekend and while some Angelenos spent their time at Mass, there was a group of passionate people who showed up in mass to celebrate their favorite superheroes at the Anaheim WonderCon.
    It was Easter weekend and while some Angelenos spent their time at Mass, there was a group of passionate people who showed up in mass to celebrate their favorite superheroes at the Anaheim WonderCon.
  • Kidnapping "Prank" Goes Bad, Parents Not Amused

    Kidnapping "Prank" Goes Bad, Parents Not Amused

    Friday, April 18 2014 1:58 PM EDT2014-04-18 17:58:38 GMT
    Twins brothers with a YouTube channel filled with their pranks say they weren't trying to make a joke. Serious intentions or not, a park full of parents were not amused by their latest stunt. This video is a must-see!
    Twins brothers with a YouTube channel filled with their pranks say they weren't trying to make a joke. Serious intentions or not, a park full of parents were not amused by their latest stunt. This video is a must-see!
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices