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>>

  • Outdoor basketball courts losing popularity

    Outdoor basketball courts losing popularity

    Friday, July 25 2014 8:35 AM EDT2014-07-25 12:35:16 GMT
    Believe it or not this, some say New York's outdoor basketball courts are a dying entity. Even Rucker Park in Harlem -- where Dr. J and countless others honed their skills -- used to be standing room only all times of the day. Now there's plenty of room to stand on most days.Basketball programs like one at Chelsea Piers are gaining popularity. That means the place to hoop it up for many appears to be indoors.
    Believe it or not this, some say New York's outdoor basketball courts are a dying entity. Even Rucker Park in Harlem -- where Dr. J and countless others honed their skills -- used to be standing room only all times of the day. Now there's plenty of room to stand on most days.Basketball programs like one at Chelsea Piers are gaining popularity. That means the place to hoop it up for many appears to be indoors.
  • Hot air balloon festival in New Jersey

    Hot air balloon festival in New Jersey

    Friday, July 25 2014 7:55 AM EDT2014-07-25 11:55:32 GMT

    The largest summertime hot air balloon and music festival in North America is taking place in New Jersey.  The 32nd annual QuickChek New Jersey Festival takes place from Friday, July 25th to Sunday, July 27th in Readington. The festival features more than 100 hot air balloons from around the world.

    The largest summertime hot air balloon and music festival in North America is taking place in New Jersey.  The 32nd annual QuickChek New Jersey Festival takes place from Friday, July 25th to Sunday, July 27th in Readington. The festival features more than 100 hot air balloons from around the world.

  • Manhattan nursery school uses sanitizing machine to keep air clean

    Manhattan nursery school uses sanitizing machine to keep air clean

    Friday, July 25 2014 7:50 AM EDT2014-07-25 11:50:43 GMT
    All of us feel the same way about "cooties": Eww. At the Goddard School on the Upper West Side, a high-tech machine is keeping "cooties" out of the classroom. "This is the latest and then most effective sanitization method available today," says Bill Swan, the owner of the Goddard School. He purchased the ZONO Sanitech for his school about six months ago. The machine is the size of a double refrigerator and uses oxygen to kill viruses and bacteria.
    All of us feel the same way about "cooties": Eww. At the Goddard School on the Upper West Side, a high-tech machine is keeping "cooties" out of the classroom. "This is the latest and then most effective sanitization method available today," says Bill Swan, the owner of the Goddard School. He purchased the ZONO Sanitech for his school about six months ago. The machine is the size of a double refrigerator and uses oxygen to kill viruses and bacteria.
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