Study Points to Job Growth in the Southland: Manufacturing Sector Still Lagging

By Loretta Macktal, Executive Assistant to the Vice President, Government Relations

Capitol Update, May 28, 2004 Share this on FacebookTweet thisEmail this to a friend

A just-released forecast by the San Fernando Valley Economic Research Center at California State University, Northridge, projects robust job growth in the San Fernando Valley over the next three years, while projecting continued job loses in the manufacturing sector.

The study projects job growth to increase by 1.7 percent this year, 1.6 percent next year and 2.5 percent in 2006. Approximately 40,000 new jobs are projected to be added by 2006. Much of the expected job growth has been attributed to the economic recovery in Southern California and the rest of California. The "Valley" or area studied is from Glendale to Hidden Hills in Los Angeles County.

Industries which will lead the job growth include professional and business services, the information sector and entertainment. The results are based on a survey of 105 medium sized and 20 large businesses.

In contrast, the study suggests the manufacturing sector will be slower to recover. Forecasts for the valley are for approximately 2,400 manufacturing jobs lost this year, slowing to around 450 per year over the next two years.
Capitol updates archive 989898989