LAEDC Reports Strong Economy
The Economic Development Corporation of Los Angeles (LAEDC), a private
non-profit organization that focuses on economic health resources in the
Los Angeles region and beyond, reports that California's economy is keeping
pace with the strong national economy, with almost all business indicators
posting strong gains.
The LAEDC report notes that the solid gains have emerged in a wide variety
of areas such as California's agriculture industry, international trade,
tourism, and high-technology -- which has been a driving force in
California's rebound. The LAEDC projects that in 1997, California should
experience a 2.9 percent increase in non-farm employment which follows last
year's impressive 2.8 percent rise. The greatest gains will come in the
services sector (including computer software, engineering and motion
picture production) with a 195,000 person gain, and manufacturing, which
will experience a 52,000 person increase in employment. Californians'
personal income should outpace inflation by a solid margin and post a 6.3
percent increase.
More information can be obtained from the LAEDC at (213) 622-4300, or by
contacting them by e-mail at laedc-info@laedc.org.

Volume 4, Bulletin 28-- August 21, 1997