[vc_row full_width=”stretch_row” content_placement=”middle” bg_type=”image” bg_image_new=”2498″ bg_override=”full” enable_overlay=”enable_overlay_value” overlay_color=”rgba(123,110,102,0.5)” seperator_enable=”off” css=”.vc_custom_1492547511904{margin-top: 0px !important;margin-bottom: 0px !important;}”][vc_column][boc_spacing height=”60px”][boc_heading alignment=”center” color=”#ffffff” font_size=”42″]Regional Intelligence Reports[/boc_heading][boc_divider divider_width=”100px” divider_position=”center” divider_color=”#ff6f00″][boc_heading alignment=”center” color=”#ffffff” subheading=”yes” css_classes=”.boc_subheading”]A Snapshot of Your Regions’ Key Economic Indicators[/boc_heading][boc_spacing height=”60px”][/vc_column][/vc_row][vc_row full_width=”stretch_row” css=”.vc_custom_1485733507264{margin-bottom: 0px !important;padding-top: 30px !important;padding-bottom: 30px !important;}”][vc_column width=”1/3″ css=”.vc_custom_1487016091872{padding-top: 10px !important;padding-right: 30px !important;padding-left: 30px !important;}”][boc_img_slider animation=”Fade” autoplay=”yes” loop=”yes” show_hover_overlay=”yes” image_ids=”4261,4259,3195,4260″][/vc_column][vc_column width=”2/3″][vc_column_text css=”.vc_custom_1533850256525{margin-bottom: 20px !important;padding-bottom: 0px !important;}”]Beacon Economics’ Regional Intelligence Reports offer some of the most concise, targeted, and accurate regional economic analyses available in today’s market. Already being used by civic leaders across California, the reports deliver at-a-glance, economic data and analysis about a region’s key economic indicators including:

• Real estate markets
• Industry & business activity
• Job growth & employment
• Consumer spending
• Demographic & population changes

Produced by some of the nation’s top economists, these fully customizable reports focus on cities, counties, or larger regions – delivering data that is adjusted, cleaned, organized, and given meaning through clear analysis.

In addition to identifying unique regional trends and conditions, Beacon Economics’ Regional Intelligence Reports also provide valuable long-term perspective by analyzing the national and state economies. This national-state-regional perspective, pulled together in one place, is not available from most other sources.

This is the dashboard you need to measure the health and direction of your community’s economy.

[/vc_column_text][boc_button btn_content=”I’m interested in this kind of report for my region” target="_blank" href=”/index.php/about-us/contact-us/” color=”btn_yellow”][/vc_column][/vc_row][vc_row full_width=”stretch_row” bg_type=”bg_color” bg_color_value=”#ffffff” css=”.vc_custom_1485733550691{margin-bottom: 0px !important;padding-top: 30px !important;padding-bottom: 30px !important;}”][vc_column width=”2/3″][vc_row_inner][vc_column_inner][boc_heading html_element=”h3″ color=”#86a63e” margin_bottom=”0px”]Regional Intelligence Reports Are Used By:[/boc_heading][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=”yes”][vc_column_inner width=”1/2″][boc_list_item icon=”icon icon-cash”]

Economic Developers

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Builders, Real Estate Developers, & Investors

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Cities & Counties

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Healthcare Organizations

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State Government

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Special Districts

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Commercial and Residential Real Estate Industry

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Business & Industry

[/boc_list_item][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=”1/3″][boc_heading html_element=”h3″ color=”#86a63e”]Sample Report Downloads:[/boc_heading][boc_button btn_content=”View a sample report” target="_blank" href=”https://indd.adobe.com/view/8906dda0-a1d7-4bc5-8f84-375dbb64f165″ target=”_blank” color=”btn_yellow” icon_effect=”btn_icon_anim_in” icon=”icon icon-arrow-right7″][/vc_column][/vc_row][vc_row full_width=”stretch_row” equal_height=”yes” disable_element=”yes” css=”.vc_custom_1485732455906{margin-bottom: 0px !important;padding-top: 30px !important;padding-bottom: 30px !important;}”][vc_column][boc_heading html_element=”h3″ alignment=”center” color=”#0f6cb6″ margin_bottom=”0px”]Regional Intelligence Reports Are Used By:[/boc_heading][boc_divider divider_width=”100px” divider_position=”center” divider_color=”#eeeeee” margin_bottom=”10px”][/vc_column][/vc_row][vc_row full_width=”stretch_row” equal_height=”yes” disable_element=”yes” css=”.vc_custom_1485732507755{margin-top: 0px !important;margin-bottom: 0px !important;}” el_id=”iconcenter”][vc_column width=”1/4″ el_class=”.iconcenter”][boc_list_item icon=”icon icon-cash”]

Economic Developers

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Builders, Real Estate Developers, & Investors

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Cities & Counties

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Healthcare Organizations

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State Government

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Special Districts

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Commercial and Residential Real Estate Industry

[/boc_list_item][/vc_column][/vc_row][vc_row full_width=”stretch_row” equal_height=”yes” disable_element=”yes” bg_type=”bg_color” css=”.vc_custom_1485732568617{margin-bottom: 0px !important;padding-top: 30px !important;padding-bottom: 30px !important;}” bg_color_value=”#f4f4f4″][vc_column][boc_heading html_element=”h3″ alignment=”center” color=”#0f6cb6″ margin_bottom=”0px”]Sample Report Downloads[/boc_heading][/vc_column][/vc_row][vc_row full_width=”stretch_row” disable_element=”yes” bg_type=”bg_color” bg_color_value=”#f5f5f5″ css=”.vc_custom_1485732561038{margin-bottom: 0px !important;padding-bottom: 30px !important;}” el_id=”iconcenter”][vc_column width=”1/4″][/vc_column][vc_column width=”1/4″][boc_button btn_content=”View a sample county level report” color=”btn_yellow” icon_effect=”btn_icon_anim_in” icon=”icon icon-arrow-right7″][/vc_column][vc_column width=”1/4″][boc_button btn_content=”View a sample city level report” color=”btn_yellow” icon_effect=”btn_icon_anim_in” icon=”icon icon-arrow-right7″][/vc_column][vc_column width=”1/4″][/vc_column][/vc_row][vc_row full_width=”stretch_row” equal_height=”yes” content_placement=”top” bg_type=”bg_color” bg_color_value=”#0f6cb6″ css=”.vc_custom_1531415760279{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 20px !important;padding-bottom: 20px !important;}” el_id=”moreinformation”][vc_column width=”1/4″][vc_column_text el_class=”whitetext”]

For more information

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For more information about Beacon’s regional economic analysis, please view our practice areas page or contact:

Managing Partner Sherif Hanna at 424.646.4656 or [email protected]

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LA JOB GROWTH TO CONTINUE IN 2017

The labor market in Los Angeles County continues to improve. Nonfarm payroll employment in the County grew 1.6% between October 2015 and October 2016. This may seem modest when compared to regions such as Orange County (2.5%), San Francisco (2.4%), and Santa Clara County (3.3%). However, Los Angeles County remains the largest contributor of new jobs in California, adding 70,100 positions year-over-year. Orange County’s increase of 39,100 jobs year-over-year was the second largest in the state. Overall, Los Angeles County accounted for 18% of the new nonfarm jobs added in California between October 2015 and October 2016.

Continued improvements in the local economy have drawn more people into the County’s labor force, which grew 3% from October 2015 to October 2016. At the same time, the unemployment rate fell 1 percentage point to 5.1% . This means that although the Los Angeles County labor force is growing, a greater proportion of people are able to find gainful employment. As it stands, the Los Angeles County labor market is among the tightest in California. Although the unemployment rate is a bit higher than in Orange County (4.0%), San Francisco (3.2%), and Santa Clara County (3.8%), it is lower than the unemployment rate in the state as a whole (5.5%).

The Education and Health Care sector led local job gains over the past year, with payroll employment increasing by 24,601 positions between October 2015 and October 2016. During the same period, Leisure and Hospitality sector employment grew 2.6%, adding 13,132 jobs in the County. The growth in Leisure and Hospitality is no surprise, since local household finances have improved and tourism activities have increased. Other sectors that grew at a solid pace from October 2015 to October 2016 were Professional and Business (1.5%), Government (1.6%), Information (2.5%), and Financial Activities (2.5%).

Although employment gains observed in Los Angeles County have been broad-based, there are a few weak components. The Non Residential Construction sector shed nearly 2,650 jobs, although this volatile industry is on a longer-term upward trajectory and grew by 16.8% from October 2011 to October 2016. The Manufacturing sector has continued to post job losses in Los Angeles County. Manufacturing payroll employment decreased by 5,937 jobs, or 1.7%, from October 2015 to October 2016. It is worth noting that manufacturing output in the Los Angeles MSA (which includes Orange County) has increased, according to estimates from the U.S. Bureau of Economic Analysis. This rise in labor productivity (output per worker) is due to the increased presence of automation in manufacturing. It is expected that the decline in Manufacturing payroll employment will continue as the industry expands the presence of computer-driven machines in production.

Beacon Economics is forecasting continued increases in both nonfarm employment and the labor force over the next six years in Los Angeles County. Nonfarm payrolls are expected to grow at rates similar to those of the past couple of years, reaching a high of 1.9% next year before settling at about 1.7% to 1.8% year-over-year growth for the duration of the forecast. The unemployment rate is forecasted to continue its decline, albeit at a slower pace, falling to about 4.5% by 2021.

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ANGELENOS SPENDING MORE AS WAGES RISE

Los Angeles County’s growing labor market has had a positive impact on local household income. Not only are more people working, but there has also been an increase in worker wages. Overall, nonfarm wages grew 1.9% year-over-year from the first quarter of 2015 to the first quarter of 2016. As a result, spending by local residents has shown significant growth in the County. Taxable sales in Los Angeles County grew 2.3% year-to-date through the second quarter of 2016, reaching $77.8 billion.

Although this was a decent pace of growth, it was much slower than taxable sales growth in both San Francisco and Santa Clara County, where taxable sales jumped 5.2% and 5.3%, respectively. Still, the increase in consumer spending is a positive indicator about the state of Los Angeles County’s economy.

Moreover, HdL Companies reports that consumer spending grew across nearly all major spending categories in the County over the past year. The only category that declined drastically was Fuel and Service Stations, where taxable receipts decreased by 19.3% year-over-year from the second quarter of 2015 to the second quarter of 2016. Still, consumer spending (as measured by taxable receipts) grew 1.1% year-over-year, despite downward pressure exerted by falling gas prices. Households are saving on fuel and thus are able to spend their incomes in other categories.

Leading the way is the Restaurants and Hotels spending category, where taxable receipts increased 6.0% from the second quarter of 2015 to the second quarter of 2016. A record level of tourist expenditures ($20.6 billion) in 2015 drove this trend. The strong demand for Leisure and Hospitality services continued in 2016, as evidenced by growth in the hotel industry. The occupancy rate in the County reached 85.73% in the first eight months of 2016, a 2.3-percentage-point increase over the first eight months of 2015. As a result of growing demand, prices have also increased. In fact, the average daily hotel room rate grew 9.7% year-to-date through August. Other spending categories showing taxable receipts growth include Autos and Transportation (1.9%), Building and Construction (5.3%), Food and Drugs (2.4%), and General Consumer Goods (1.0%).

Beacon Economics is forecasting Los Angeles County’s taxable sales to continue their upward trajectory, rising by about $10 billion from the fourth quarter of 2015 to the fourth quarter of 2021.

** Los Angeles County refers to the Los Angeles-Long Beach-Glendale Metropolitan Divsision.

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