Report: L.A. Could Lose 164,000 Jobs

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Metropolitan Los Angeles could lose 164,000 jobs this year as the nation’s economy wallows in the deepest recession since before World War II, according to a new report that provides a sobering backdrop to the start of President Barack Obama’s administration.

Unemployment in the area stretching from Los Angeles to Santa Ana could jump from its current 8percent to 9.8 percent by year’s end, said the report from IHS Global Insight. But that would would still be below the 10.8percent unemployment that Los Angeles County experienced during the recession of the early 1990s.

Global Insight senior economist Luke Tilley said the current recession will impact Southern California much like back-to-back recessions in 1980 and 1981.





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