Analysts Say Hollywood Will Boost LA's Economy
LOS ANGELES (AP) — Experts say Hollywood motion picture and television production should help the Los Angeles County economy by adding jobs this year.
Los Angeles County Economic Development Corp. chief economist Nancy Sidhu says the Los Angeles economy is poised for growth. The county is expected to add 24,100 total jobs this year.
Film and TV production added 16,500 jobs last year, becoming one of the fastest-growing employment sectors, and Sidhu says it will continue to add jobs this year.
The group's forecast released Wednesday also shows international trade and tourism will add jobs.
The Los Angeles Times says residential building will remain slow because there's still an oversupply of apartments and condos. The forecast predicts that the county will issue 8,490 residential building permits this year compared to 26,300 permits in 2006.
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