Los Angeles Economy

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There are modest, but encouraging signs for Los Angeles job hunters. Two economic reports by the Los Angeles County Economic Development Corp. indicate as much, citing a slow but steady recession recovery. Between 2012 and 2013 half a million jobs could be added to the State of California, which means the city of Los Angeles could see a slight drop in the unemployment rate. Currently, the city has an 11.1% unemployment rate, and financial predictions place unemployment down to 10% in the coming months.

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The economy is affecting the LA job market. The financial rating company, Standard and Poor’s, handed the State of California a ‘stable’ rating. The rating was based on the state’s ability to come back from crippling debt and consequently the ability to pay the debts off. Last year the S&P upgraded the modest ‘stable’ rating to “positive”. That’s the good news, but there is some gloomy news attached to the prediction. Jobs in LA

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