As today's story on the South Bay economic forecast notes, this area will suffer less pain from the downturn than California and the nation as a whole.
Some items that didn't make the article include:
- Last year, the ports of LA and Long Beach saw their first drop in container traffic in 16 years, at 1.2%. This drop "looks to be the beginning of a trend that may persist into the near future," the report says.
- Manhattan Beach was the only South Bay community that saw a rise in home values this year compared to 2007. In June, the median home value rose 49.4% over the same month last year. However, "as the other communities in the region become more affordable, demand for homes in Manhattan Beach will decline, putting downward pressure on prices in that area," the report says.
- Torrance was the South Bay's top employer in 2006 (the year with the most recent data) with nearly 103,000 jobs at 6,088 firms. That's about 20% of all South Bay firms.
- Rolling Hills saw the highest growth in taxable sales from 2002-07, at 500%. Carson enjoyed the lowest growth in that period with under 100%.
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