The 2007-2008 Economic Forecast and Industry Out Look for California and Southern California  has been published by the Los Angeles County Economic Development Corporation.

This report looks at economic and industry trends in the US, California and the Southern California region (the 5 counties of LA, Orange, San Bernardino, Riverside, and Ventura) in addition to San Diego County.  Among some of the topics covered: an overview of economic growth in the US; consumer debt and household spending; employment; the outlook for several industries (including health services, bio-medicine, apparel design and manufacturing, and aerospace); the housing market; gross domestic product for the region, with comparisons to the international arena, and more.

Selected Findings:

• LA County is expected to add 43,700 new jobs in 2007.
• Apartment rents have increased 8.1 percent in LA County from 2005 to 2006, and by 6.3 percent in Orange County during the same time period.
• Personal income in LA County is expected to increase by 4.9 percent in 2007 and by 5.3 percent the year after.
• Los Angeles County faces a housing shortfall of 290,000 units.
• Nationwide, consumer debt rose by $1.1 trillion since last year.
• In 5 years, the median home price in LA County grew more than $343,000, from $241,370 in 2001, to $584,820 in 2006.
• The gross domestic product of LA County in 2005 was $418.7 billion; larger than Ireland, Taiwan, Greece, Norway, or Austria. 
• 2007 and 2008 will see the motion picture industry face challenges due to important labor negotiations that are set for October of this year and June, 2008.

Search the CCRS Research Catalog
Search for data on the CCRS Data Links Page
Subscribe to our weekly Research eNewsletter