LAEDC Mid-year Forecast Shows Improving Economic Picture and Job Growth in 2011
Los Angeles County’s entertainment, tourism and international trade sectors will lead a “measured recovery,” but housing remains an issueLos 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