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Pathways to Economic Resiliency LA County: APPENDIX (part 3)

Pathways to Economic Resiliency LA County: APPENDIX (part 3)

County of Los Angeles has released a report prepared by LAEDC, with data and analysis of the economic crisis caused by COVID-19, and recommendations for steps the public and private sector can take to improve the recovery and create more widely shared equity.  The report, Pathways to Economic Resiliency, is a product of LAEDC’s Institute for Applied Economics which is committed to LAEDC’s vision of a growing, equitable, environmentally sustainable and resilient economy, that provides a healthy and high standard of living for all in LA County.

THIS IS THREE OF THREE FILES.

This Appendix is a data-rich 300-page document, with charts, maps, and a basis for much of the analysis and recommendations in the main report.   This is a great tool for people who want to explore the report more deeply, study its data, and consider additional directions for study.

Please note the following files are available:
Executive Summary, Main Report, Appendix

Please see the full announcement and explanation of this work at: https://laedc.org/2021/02/09/pathways-report/ 

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Propel L.A. Final Report

Propel L.A. Final Report

The economic crisis caused by COVID has revealed a number of stark truths about diminishing economic inclusion and the income divide in LA County, but before recovery planning is complete, it is important to look at the goals our region had set leading up to the crisis, and take stock of how well those strategies worked.

In a new “Final Report” published by LAEDC about the 2016-2020 Strategic Plan for LA County Economic Development, implemented as “Propel L.A.”, the past five years of data were compared to the goals that our region’s communities collaboratively created to drive desired outcomes.  This look at data from 2015-2019 helps us evaluate progress before the economic shock of 2020, which is important context.

View a Highlights Page for a 3-minute read HERE
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Essential Workers during COVID-19 in the Los Angeles region (CCW report)

Essential Workers during COVID-19 in the Los Angeles region (CCW report)

This report is the 16th in a series of reports on occupations in Los Angeles County industries, published by LAEDC in partnership with Center for a Competitive Workforce (CCW).

VISIT THE CUSTOM WEBPAGE FOR THIS REPORT:  https://competitiveworkforce.la/essential 

During COVID-19, workers at “essential industries” in Los Angeles County reported for work and kept the economy and society going. This report’s purpose is to inform our community college system, students and job seekers which occupations in frontline industries pay well and will be hiring.  This helps our colleges scale and update programs, and also provides job seekers with good information to choose careers. LAEDC is connecting industry with education for workforce development, which helps economic mobility especially for the diverse student body at our region’s 19 community colleges.  The report:

■ Analyzes the major trends occurring in frontline industries
■ Projects regional employment in target occupations
■ Identifies the jobs that have the brightest future for community college students in the region

Published by LAEDC’s Institute for Applied Economics, as part of our partnership in Center for a Competitive Workforce.

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Together for LA: LA's coordinated response to small businesses under COVID-19

Together for LA: LA’s coordinated response to small businesses under COVID-19

This report, Together for LA: First Report on LA’s COVID-19 Small Business Response, by Institute for Sustainable Development (ISD), is being hosted by LAEDC because we are partnering in the Together for LA initiative to save LA County’s small businesses.  The report  describes a coordinated response to the region’s small business challenges in the face of COVID’s health and economic crisis, describes how this response has evolved, identifies key challenges, and provides insights and recommendations from a diverse range of small business owners and leading economic recovery assistance providers in Los Angeles.  While this report mentions LAEDC contributions to the Together for LA partnership, the report itself is a work product of ISD.  More details at TogetherforLA.org

Thanks to Wells Fargo for its generous funding support for this report.

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Industry Clusters of Los Angeles County (2020)

Industry Clusters of Los Angeles County (2020)

LAEDC examines industry clusters in Los Angeles County to understand our regional strengths and weaknesses, and use this insight to build more informed economic development strategies while comparing our performance against that of other regions. This report presents a description of our private sector economy through the lens of clusters and regional competitiveness.

The report provides details on employment, occupations, wages, trends and forecasts in industries such as Aerospace, Entertainment, Trade & Logistics, Hospitality and Tourism, Finance, Fashion, Bioscience and more.

Four Year Colleges and Universities: Addressing the Knowledge Worker Talent Gap in Southern California

Four Year Colleges and Universities: Addressing the Knowledge Worker Talent Gap in Southern California

The report, “Four-Year Colleges and Universities: Addressing the Knowledge Worker Talent Gap in Southern California,” provides information about the region’s future industrial and highly skilled employment concentrations, forecasts important shifts in Southern California’s post-secondary-relevant job markets and identifies trends within key post-secondary occupational categories to help guide the area’s four-year colleges and universities.

Business and education leaders are going to have to work together to ensure that Southern California has the skilled workforce it needs to maintain its global reputation as the home of innovative business and technology leaders, according to a report recently released by the Los Angeles County Economic Development Corporation (LAEDC) and California State University, Northridge.

WTCLA 2020 Foreign Direct Investment (FDI) Report

WTCLA 2020 Foreign Direct Investment (FDI) Report

On May 26, 2020, the World Trade Center Los Angeles (WTCLA) released the report Foreign Direct Investment in California, 2020, assessing the positive employment impact of foreign-owned enterprises in the state and its various regions. The report was created in partnership with the California Governor’s Office of Economic Development and Loyola Marymount University’s Center for International Business. Over 730,000 direct jobs in California are at foreign-owned firms, according the report, underscoring how important FDI and international connections are to the state’s economy.

Municipal budget exposure and COVID-19

Municipal budget exposure and COVID-19

LAEDC’s Institute for Applied Economics has published this analysis of general revenues of the 88 cities in Los Angeles County, assessing the level to which the cities are vulnerable to fiscal shocks as a result of the global COVID-19 pandemic.  Awareness of these challenges and prudent planning will be critical for all 88 Cities in Los Angeles County.

Collectively, these data serve to highlight which cities may be most in need of state and federal aid in order to maintain essential services, to avoid significant layoffs and furloughs of city workers, and to maintain maximal ability to provide relief efforts to households and businesses, especially those most in need during these uncertain times.

Cities wishing to engage with LAEDC economists to interpret the analysis can contact [email protected]

Media/reporters interested in covering this research, please contact [email protected]

Coronavirus impact on Southern California economy - Estimates of possible unemployment levels

Coronavirus impact on Southern California economy – Estimates of possible unemployment levels

On April 21, 2020, the LAEDC Institute for Applied Economics has published estimates for the Southern California economic conditions in May 2020, estimating a potential unemployment rate of 31.7% for Los Angeles MSA (LA and Orange Counties) and 31.4% for the broader Southern California region.  These estimates will change depending on many factors including policy interventions, and LAEDC will provide an update when further analysis is available.

This report provides county-level data for each of the 10-counties in Southern California, including San Diego, Imperial, Riverside, Orange, San Bernardino, Los Angeles, Ventura, Kern, Santa Barbara, San Luis Obispo.

Please visit LAEDC’s Community Connectory resource page on this website, with resources to assist your organization, as well as to request assistance from LAEDC’s team of business assistance professionals.

Media inquiries:  [email protected]

Media inquiries:  [email protected]

 

Media inquiries:  [email protected]

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LAEDC’s initial March 17, 2020 analysis of COVID’s impact on the LA County economy

LAEDC’s initial March 17, 2020 analysis of COVID’s impact on the LA County economy

This research brief was released by LAEDC’s Institute for Applied Economics the first week of California’s lockdown for the COVID-19 crisis of 2020. It provided stakeholders in the region and broader nation with analysis to prepare for the unprecedented and deeply damaging and rapid economic changes, job dislocations and business challenges that we would all face.  Originally circulated as a direct, urgent email campaign to all LAEDC’s network of contacts, we provide it here as an archive of our analysis at that time, which was one of the first comprehensive perspectives to help inform decision makers and households in the LA County region.  The brief includes:

  • COVID-19 affect our LA County economy, its industries, employers and workforce
  • Recommendations and analysis from LAEDC

For post-COVID analysis please see LAEDC’s Pathways to Economic Resilience report which looks at what actually happened in the economy during the first eight months of the pandemic and provides related policy recommendations for a more equitable recovery.

EV Industry Report: Energizing an Ecosystem, The Electric Mobility Revolution in SoCal

EV Industry Report: Energizing an Ecosystem, The Electric Mobility Revolution in SoCal

The Electric Vehicle (EV) industry growth in California has positioned the state as a globally leading researcher, designer, manufacturer and exporter of transportation-related products, services and technologies, creating 275,600 direct EV industry jobs statewide.  Read LAEDC’s analysis of the industry in California, Southern California, as well as insights on the importance of EV adoption to environmental goals.

Ocean Economy in LA County

Ocean Economy in LA County

Today in LA County, 117,000 workers are directly employed in the region’s “Blue” or “Ocean” economy, with an additional 82,500 jobs sustained by the industry, according to a report: The Ocean Economy in Los Angeles County, which was sponsored by LA County Supervisor Janice Hahn’s office and released by the Los Angeles County Economic Development Corporation (LAEDC) and prepared in collaboration with AltaSea at the Port of Los Angeles. Based on the industry’s significant regional economic contribution, the LAEDC took the rare step, upon the report’s release, to add the “Ocean Economy” as a Southern California-based industry cluster that it will formally monitor, benchmark and track going forward.

2020 LAEDC Economic Forecast

2020 LAEDC Economic Forecast

LAEDC’s 2020 Economic Forecast examines many factors related to jobs, income, standards of living, and industries in Los Angeles County, Southern California and the entire state. While unemployment and down and wages are growing modestly, there are troubling signs regarding individual prosperity due to low wage jobs, rising housing costs and other factors.  Read more in the full report download, and also take a look at our web story for Key Findings and interesting slide presentations from the event: https://laedc.org/2020/02/19/2020-economic-forecast/

SCAG Economic Update for LA County, by LAEDC

SCAG Economic Update for LA County, by LAEDC

This LA County Economic Update was released as part of SCAG’s 2019 Economic Summit, and produced by LAEDC.  Thanks to SCAG for sponsoring this research and for its leadership in the mega region, which was evident at an excellent event.

Oil and Gas Set-Back Economic Report

Oil and Gas Set-Back Economic Report

Oil & Gas setback policy is a complex issue with economic, environmental, public safety and property rights implications.

LAEDC is neither taking nor endorsing any particular position on this issue but rather offering this report on employment and economic impacts associated with potential changes in setback policy to better inform policymakers, solely on those economic and fiscal impacts.

Download the report here.

Sector Scan: Hospitality Industry

Hospitality Industry: This CCW sector-scan is a short report summarizing some of the middle-skill occupations in the hospitality industry that pay a living wage or better, with significant job openings … Continued

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Sector Scan: Retail Including eCommerce

Retail Industry: This CCW sector-scan is a short report summarizing some of the middle-skill occupations in the retail industry (which includes some occupations outside of “store” type occupations) and these … Continued

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HIGH GROWTH MIDDLE-SKILL OCCUPATIONS

2019 High Growth Occupations: Target occupations identified in this report all have high-growth potential over the next five years, pay well above a living wage, and are accessible to job-seekers … Continued

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