Gas and food prices are up. This year's Writer’s Guild strike cost the region 2.5 billion dollars and the Screen Actors Guild strike may be about to strike. The foreclosure bust is here and threatens to worsen. It seems the only people in town with money these days are European and Asian visitors. The unemployment rate has creeped up to 6.2% and probably won't improve in 2009.  The largest job losses in 2008 will be found in construction (-10,000 jobs), finance & insurance (-5,000 jobs), and manufacturing (also a loss of 5,000 jobs). The biggest employment gains during 2008 will come in health services (+8,500 jobs), government (+6,000 jobs), and professional, scientific & technical services (+5,000 jobs). The employment situation should improve a tad in 2009, with an increase of 0.6% or +25,200 jobs.

...from Jack Kyser of the LAEDC (July 2008)