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Even More Job Growth Expected in LA in 2001

LOS ANGELES--Two new economic reports say LA may create even more jobs next year than in Y2K, fueling retail sales and spurring demand for everything from new office space to hotel rooms.

By David W. Myers | Updated on October 26, 2000

LOS ANGELES–Two new economic reports say the county’s job growth will be even stronger in 2001, especially in the South Bay area.

The reports are good news for commercial real estate developers and other investors across Los Angeles, a county that throughout the second half of the 1990s enjoyed moderate growth, but not nearly as much as neighboring Orange, Riverside or San Bernardino counties. More jobs translates into higher sales at retail centers, additional demand for office and industrial space, more business travel for hoteliers and a growing need for housing.

In the first report, economists at California State University Fullerton say LA County employers will add more than 75,000 people to their workforce next year. That’s a solid increase from the 70,000 new jobs that are forecast to be created for all of 2000.

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