Los Angeles Economy
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Table of Contents
Los Angeles problems
As per latest news on Los Angeles economy water crisis is a major problem being faced by residents of city. A number of innovative proposals are being put forward in order to solve these problems being faced by economy of Los Angeles.
Fuel emission and efficiency
Fuel emission and efficiency is a critical problem for Los Angeles’ economy as well as environment. Recently Obama has revealed that a new kind of fuel efficient cars would be introduced in automobile market. It is expected that these cars would help to bring down levels of dependency on oil that is imported in US.
Economists, as per their estimates regarding Los Angeles economic system, have said that these cars would be a bit on expensive side but have also pointed out that they would prove to be useful once they have been used for a couple of years.
New shops opening in Los Angeles
A number of well known international brands like Tesco in United Kingdom are opening their outlets in Los Angeles. This is a good news for Los Angeles economy as this could go a long way in reviving consumer interest that would go a long way in stabilizing overall economic conditions of that city.
Ratings of Los Angeles securities
In its recently released ratings Fitch Ratings has assigned an AA rating to various securities that are supposed to be sold by negotiation on 23rd June 2009. These securities include series 2009 A and judgment obligation bonds.
Ratings of Fitch have been influenced to a certain extent by fact that there are structural imbalances in Los Angeles economy. However, this influence has been negated to a large extent by fact that these bonds have been managed in a prudent way and viable policies have been adopted for same.
Job scenario in Los Angeles
In 2008 fiscal there was a spate of job losses in Los Angeles, which was a first since 2003 fiscal. Sectors that have been hit hard in this case are finance and construction sector. Rate of unemployment has gone up to 12.5 percent as of March 2009 as compared to 5 percent on March 2007 fiscal. In fact Los Angeles has highest unemployment rate in entire USA.
