New Report: Pathways to Economic Resiliency outlines economic recovery recommendations
On Feb 9, 2021, County of Los Angeles has released a report produced by LAEDC, with data and analysis of the economic crisis caused by COVID-19, and recommendations for steps the public and private sector can take to improve the recovery and create more widely shared equity. The report, Pathways for Economic Resiliency, is a work product of LAEDC’s Institute for Applied Economics which is committed to LAEDC’s vision of a growing, equitable, environmentally sustainable and resilient economy, that provides a healthy and high standard of living for all in LA County.
Below you will find the press release issued by County, and further down is the report for viewing and download. This report will be discussed at LAEDC’s annual Economic Forecast on February 17th, “A Tale of Two Recoveries.”
FULL PRESS ANNOUNCEMENT:
LA County WDACS releases report on COVID-19 impact on local economy, recommendations to strengthen data-driven economic recovery efforts
COVID’s job losses and business hardships hit economically disadvantaged hardest; recovery plans can address equity issues and create a better life for all
FEBRUARY 8, 2021 (LOS ANGELES, CA) – Today, the Los Angeles County Department of Workforce Development, Aging and Community Services (WDACS) released an in-depth report on the economic impacts of COVID-19 and the most viable pathways for recovery for the County’s industries, workers, and communities. For the first time, the report identifies that LA County lost 437,000 jobs in 2020, will have 354,000 fewer living wage jobs in 2021 compared to the pre-pandemic economy, and that 738,672 living wage jobs need to be created for the entire LA County workforce to achieve a satisfactory standard of living.
The full 50-page report, entitled “Pathways for Economic Resiliency: Los Angeles County 2021-2026,” may be downloaded here. A shorter 18-page executive summary is available here.
You can read the full press release here.
