Understanding the Economy in Los Angeles

Introduction

 

Some parts of the Los Angeles economy are more famous than others. Many people all over the world are aware of the influential movie industry within Los Angeles. However, this city has plenty of other prosperous industries. Countless people have gone to school in Los Angeles. Many more people will take vacations there. Still, this is also a city that is known for its manufacturing and financial sectors. It’s possible to work in a lot of different fields and succeed in Los Angeles.

The Los Angeles Economy

 

  1. Many people in Los Angeles work for the famous institutions of higher learning within the city.

People won’t always think of Los Angeles as a college town. However, the University of California, Los Angeles is the third largest employer within the city itself. The University of Southern California is the fourth largest Los Angeles employer.

The people who have backgrounds in administration and who are able to get jobs at colleges will find it comparatively easy to get work in Los Angeles. This city has plenty of other schools, making it easier for people who are used to working at colleges to get ahead, at least in many cases.

 

  1. Los Angeles is one of the biggest manufacturing centers in the United States, especially the western United States.

People rarely think of the manufacturing companies within Los Angeles, but there are quite a few of them. The geography of Los Angeles is great for people who work within the manufacturing field for a number of different reasons. Almost any city that has coastal sections will tend to have seaports that manufacturers will be able to use, making international shipping that much easier.

The climate of Los Angeles is very favorable for manufacturers. They don’t have to worry about their products getting damaged during the rapid temperature fluctuations that people would experience in more temperate climates.

 

  1. Los Angeles has a competitive financial sector.

When people think of cities that are known for their financial sectors, they will tend to think of New York City. Wall Street is indeed in a category of its own. However, plenty of the people who have training in the financial sector will go to Los Angeles instead, especially since Wall Street is even more competitive than any area that people will find in Los Angeles.

 

Still, the Los Angeles financial sector is very effective and successful. Los Angeles attracts a lot of wealthy individuals, and plenty of wealthy individuals are born there. Many of them will immediately go into the financial sector. There are three different major Fortune 500 companies within Los Angeles, including the CBRE Group and AECOM.

 

  1. The City of Los Angeles is still the biggest employer there.

People should never underestimate the need for government employees. There are certainly plenty of them within Los Angeles. This is a complex city, and it takes a lot of people to successfully keep it running. Many of the people who live and work in Los Angeles specifically work for the City of Los Angeles.