[Source: Los Angeles Business Journal] Los Angeles continues to face decline in high-paying manufacturing jobs as workers flee the city, according to a recent report.
The city has shed 20 percent of its manufacturing positions since 2007, a 2016 economic forecast released by the A. Gary Anderson Center for Economic Research at Chapman University said.
State’s manufacturing jobs edged down 1 percent, while the nation’s number of jobs has grown 3.7 percent since 2009.
As a result of the decline in the manufacturing sector, more than 170,000 people left the state over the last three years. Most of them are residents of Los Angeles.
In the meantime, California’s service-related jobs sector has grown by 19.6 percent, compared to nation’s 15.6 percent growth since 2007.
Statewide, personal income has increased 33.8 percent, according to the forecast.
However, the economic recovery has focused mainly on the Silicon Valley area, where tech companies added 57,000 jobs since 2007.
Source: Los Angeles Business Journal
July 7, 2016