Big Industries Bring Big Bucks, but Little Turnover

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The unemployment rate for the Los Angeles-Long Beach-Glendale metropolitan area slid from 10% to 8.1% between the summers of 2013 and 2014 as the number of people unsuccessfully looking for work plunged 18.6% to 399,000, according to a recently released report.

High-paying industries are ratcheting up their hiring, the report said. Local employers in the education and healthcare services, professional and business services and information industries added 52,200 jobs to payrolls in July compared with a year earlier.

Nearly two-thirds of workers in the Los Angeles information sector are in motion picture and sound recording, a subsector that added 7,400 jobs as the number of on-location film permitted production days surged 33.7%, according to the report.

In Los Angeles, per capita income is on the rise, increasing 1.8% from the first quarter of 2013 to the same period this year and surging 12.4% over the last four years.

Angelenos are also spending more, with a bump in taxable sales receipts forecast.

But income expansion in L.A. lags the 3.6% year-over-year and 16.7% four-year increases statewide.

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