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Thursday, Mar 28, 2024

Housing, Hollywood Labor Problems Curb Growth In Valleys

Job growth in the Antelope and Santa Clarita valleys reached into the thousands in 2007 but did so at a slower pace in the San Fernando Valley, according to a new study from the Los Angeles County Economic Development Corp. The housing market downturn and labor problems in the entertainment industry will put the brakes to growth in the San Fernando and Santa Clarita valleys this year, while the housing crash will most hurt the Antelope Valley. Construction jobs led the loss column in jobs in the Palmdale/Lancaster area with 640 positions in 2007. However, on the positive side was the addition of 830 government jobs and 515 education and health service jobs. Job creation in the Santa Clarita Valley rose 2.6 percent in 2007 with gains in government and education and health services. The report concluded that the Southern California economy is flirting with recession with the housing market in a depression and recovery still a year or two away. The overall Los Angeles County economy in 2008 is still recovering from the three-month Writers Guild of America strike that ended in February and a slowdown in television and film production blamed on labor problems between the Screen Actors Guild and the major Hollywood studios. Export activity into the county will remain robust in 2008 and into the following year, and international travel will help the tourism industry. The largest loss of jobs is expected in the construction, finance and insurance, and manufacturing sectors, with gains coming in health services, government and professional, scientific and technical services.

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