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Article: Economics. (Los Angeles, CA)(1997 Business Almanac)
- Article from:
- Los Angeles Business Journal
- Article date:
- June 23, 1997
- Author:
CopyrightCOPYRIGHT 1997 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The economy of Los Angeles is well into its third year of growth, following the bruising recession of the first half of the decade.
This year, employment is moving forward at roughly a 2 percent clip, providing an underpinning for related strength in retail sales, real estate values and even tax collections.
The county unemployment rate in April fell to 7 percent, down from 8.2 percent a year earlier. The rate peaked at 9.7 percent in 1993.
"It looks like for Los Angeles County, the growth in terms of jobs is gaining momentum," said Esmael Adibi, director of the Center of Economic Research at Chapman University. "The job growth is broad-based. Other ...
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