Los Angeles is home to the second-largest metropolitan economy in the United States, but did you know that it is also the birthplace of an array of pop culture standards? The electric guitar, the bathing suit and the skateboard were all developed here, along with several high-tech innovations like the Mars rover and the F-117, the first stealth fighter built for the United States military.
The professional and business services sector is driving much of the recent growth in L.A.’s labor force, and construction jobs are also on the rise. Two of the region’s biggest industries – trade and tourism – had record-breaking activity in 2014. Among the region’s Fortune 500 companies are entertainment industry giant Walt Disney, digital television company DirecTV and manufacturer Reliance Steel & Aluminum.
The L.A. metro’s workforce is very highly-educated: about 21 percent of local residents have a bachelor’s degree, and another 11 percent have professional or graduate degrees. Per capita and median household incomes are also higher in the L.A. metro region compared with national levels.
SHRM’s Metro Economic Outlooks provide comprehensive analyses of the economies of the largest metropolitan areas in the United States. The reports include data from SHRM, the private sector and the federal government, as well as insights from experts that are connected to each area’s economy.
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