Los Angeles County’s entertainment, tourism and international trade sectors will lead a “measured recovery,” but housing remains an issue
Los Angeles —In a new report released today, the Los Angeles County Economic Development Corporation (LAEDC) projects the U.S. economy will grow by 3.1 percent in 2010 and by 2.9 percent in 2011 after contracting by 2.4 percent in 2009. The report also shows that employment will grow through year end 2010, and the nation’s unemployment rate will decline slowly, reaching the nine percent range by the end of 2011.
            According to the “2010-2011 Economic Forecast and Industry Outlook: Mid-Year Update” report produced by the LAEDC’s Kyser Center for Economic Research, California’s recovery will be led by tourism, international trade, technology, and television and film production.
            “We are seeing a measured recovery under way,” said the Kyser Center’s Chief Economist and report co-author, Dr. Nancy Sidhu. “Automotive and...