During LAEDC’s July 19th Economic Briefing, economists Shannon Sedgwick and Alexander Specht joined CEO Bill Allen to discuss the state of recovery from the COVID-19 economic crisis, with a deep dive into industry data, latest job figures from California EDD, analysis of job openings, small business revenues and more.
Looking at June 2021 data, LA County has recovered about half of the jobs lost during the opening months of the COVID pandemic in 2020, and Bill Allen reaffirmed LAEDC’s forecast that we project full job recovery won’t occur until late in 2023, and the composition of jobs will be somewhat different. One of the more concerning data points presented revealed that small business revenue in California is tracking very poorly, down 43% from pre-pandemic levels, which is hurting the small business recovery in the state and in LA County. Please view the video for complete analysis.
View the slides from the economist presentations by LAEDC from July 19th, 2021. This is a pdf file format.