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Study — Pandemic’s economic impact on region to be ‘severe and long-lasting’

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[Click image to view the study.]
LOS ANGELES – The coronavirus pandemic’s economic impacts, including historic levels of unemployment, on Los Angeles County may be “severe and long-lasting,” according to a study published Thursday by Southern California Association of Governments [view it here].

The study by the association’s analysts predicts the six counties it encompasses — Los Angeles, Imperial, Orange, Riverside, San Bernardino and Ventura — will have an annual unemployment rate of 19.3% in 2020 and 12.2% in 2021. The unemployment rate in January and February was about 4%.

City budgets are likely to feel severe impacts of the pandemic, as the analysis projects a decrease in taxable sales of 26% to 38% in 2020 and 2021, which would range from $178 billion to $264 billion lost for local governments.

Restaurants are projected to have the biggest sales drop over the next two years, ranging from 53% to 65%, according to the study.

Retailers are projected to see a sales decrease of 43% to 57%, car dealers and parts stores to see a decrease of 38% to 48%, and home furnishing and appliance store sales down 34% to 43%.

“There is no segment of our economy that is not impacted one way or another by COVID-19, which only emphasizes the need for an inclusive economic development strategy moving forward,” said SCAG’s first vice president Rex Richardson. “The work we do in the coming months will be critical to how quickly and effectively we put this crisis behind us.”

The analysts believe the pace of the economic recovery will be determined by how businesses reopen and the how quickly a vaccine is available to the public.

The study predicts the low point will be June 1, followed by a long recovery period, with economic impacts felt through the end of 2021.

“This is unlike anything we’ve seen in our lifetimes,” said SCAG Executive Director Kome Ajise.

“We know we’ve got huge challenges ahead of us, and will be working closely with our stakeholders and member cities and counties to identify a pathway to recovery that benefits all Southern Californians.”

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48 comments for "Study — Pandemic’s economic impact on region to be ‘severe and long-lasting’"

  1. How amazingly naive, selfish and unpatriotic some people here are. Even if COVID-19 wasn’t manufactured in a Chinese lab, it was certainly discovered, cultured, replicated and released by them. They curtailed travel in China but let it come over here.

    It’s not a coincidence that they were under international pressure because of Hong Kong riots, Uighur Muslims, Tibet, trade cheating, stealing intellectual property, stealing military secrets, compliance with trade deal, etc. They purposely let it loose cause we were kicking their a$$ for a change (due to Trump), even if they just facilitated it and not manufactured it.

    Yet China apologists from this forum only know how to Blame Trump for everything bad that has ever happened. Do you think he likes this with November coning up?

    These people are so unpatriotic. So obsessively consumed by Trump hate that they cannot see us being attacked by an evil communist regime??

    People like that dangerous to our country. You know who you are!! Maybe you’d be more comfortable in Chiiina.

    Signing off: Your immensely popular local Trump defender behind enemy lines in Kalistan. I love you too!!

    • Trump banned travel from China in January then went golfing and had rallies.

      Still, 40,000 came from China and the majority of the infected people that landed in New York causing that disaster were from Europe. Trump was slow to act on that as usual.

      Trump ran on hate, Trumpist. “Lock her up.” was the chant at his rallies.

      Now, the unpatriotic ones (who cheer as our institutions are corrupted and damaged) are calling truth telling critics of Trump “haters” per “orders” from the White House and the nutjobs at Fox News.

      You are being used Trumpist and you think what you write are your thoughts. Nope. Everything you post originated in the rightwing alternate universe and is available elsewhere.

      The only original thought you might have had is saying you love me but it’s been done many times before. So, welcome to that group of intelligent people.

      • LMAO, I do love you telling me how stupid I am. No one does it quite like you. I did have an original thought once in a moment of clarity, but I forgot.

        All I have to say is: LOCK HER UP !!!! LOL

        • I know. I know. Why do I tell you that you are stupid when it’s so self-evident?

          You have to admit that evevrything you say is repeating the stuff on Fox News.

          You and Ron and Dennis. It’s like a chorus. Call and response. In your case, it’s call and repeat.

          Trump said vote by mail is a fraud.

          You said Republicans requested more mail-in ballots.

          Therefore, Mike Garcia’s win was a fraud according to Trump’s logic.

          You Trump cult people are so so……..how do you spell ignorant?

          • There are mindless Trump followers, mindless Democrat followers. William falls into the second group.

            If he does not agree with someone he just calls them names, some vulgar (pussies)insults their intelligence, tells them how stupid they are and how smart he is.

            What a wonderful small little world it is orbiting around William.

            I would hope someday he would gain the basic human respect toward others, learning how to listen to others and post informative and objective reasoning if there is a disagreement. I guess that is expecting a little too much, like the Unicorn utopia so many others are living in right now.

          • In reply to Really? below:

            I’m the one he’s calling names most of the time, not you. Don’t you think you might be a little “thin skinned” as they say? I grew up in NYC (as did Trump) and we aren’t usually politically correct or over-sensitive.

            Humor makes it fun. Lighten up and call him names. I do, lol. You might like it. You could use some realistic give and take debate to develop “thicker skin”. Don’t be a snowflake. Just saying.

  2. The government shuts the economy down, then boo hoo’s because the economy is shut down.

      • Is that better Trumpist#1? I just try to keep things a little civil. If Willie isn’t careful he is liable to have a bunch of vagina hat wearing women after him with those comments.

        Trust me…..A snowflake I am not.

  3. All of you that post obviously have computers. Dr. Fauci explains in great detail why the Chinese did not unleash this pandemic purposely. This is NOT lab grown, and if anyone cares about truth instead of unfounded conspiracy theories, please us your computers to gather the facts instead of these foolish comments. What good does it do to play the blame game? Apparently our president refuses to accept any responsibility for anything, and knows his core base that hangs on his every word will follow him to the grave.

    • Gee, I remember you telling us that we should worry more about the flu than COVID-19. Maybe we should take your opinions with a grain or sack of salt.

      How quick you are to blame Trump with your knee-jerk reactions. Did he unleash this on us? You are delusional with TDS and lack all objectivity and fairness in this matter.

    • 2nd time around:

      Alexis:

      Didn’t you tell us that we should worry more about flu than COVID-19?

      Perhaps we should take your opinions with a grain or sack of salt.

      • Trumpist: No, I did not say that, but for some reason you try to say I have said things I never said. You said I couldn’t be a Jew and a Christian, so I had to explain to you that being Jewish is not a religion; then you said I wanted a pastor for a president which I never said, and had to explain why a pastor for president would be a bad idea; then you accused me of having different screen names which is completely bazaar coming from you. There’s more, so perhaps WE should read your opinions and realize you’re not the genius you think you are. Stay safe and sober.

        • Oops: Bizarre instead of bazaar. LOL, you overwhelmed me with your false accusations; you can’t help it T#1.

      • Anyway T#1: You have a computer like I mentioned in my original comment, so I suggest you read or listen to what Dr. Fauci has to say to get the facts, instead of making up stuff about me and comments I never made.

        • Just to be clear, do you deny posting that flu is more dangerous that COVOID or something to that effect? Was your account hacked, lol?

    • Dr Fauci stands to make millions with his vaccine. Dr Fauci has been involved in making vaccines and studying virus behavior for decades. Dr Fauci does not want you to know the real origin of this virus. A guy who studies and works with viruses, and also creates vaccines….. huh.

      It was not from someone eating a bat. Do the research like you suggest. This virus is a split off from SARS2. It was manipulated so it would spread readily and adapt quickly. Had it not been manipulated, it may have take 100’s of years to evolve to this point.

      There is a lot of money to be made over this whole thing. This is ultimately what it will all be about.

      • I see you have been reading The Washington Times, and the Trump lies being sent forth to discredit Dr. Fauci. There are plenty of un-biased sources to sift through to come to the conclusion that all this Fauci-Gates misinformation is just that, all distortions.

        • Nope, don’t read the Washington Times. I do real research. I notice you must read that rag though or you would not have referenced it.

          Do a timeline on Dr. Fauci. Do you really believe if Trump really didn’t have any belief in Fauci, he would still be opening his pie hole.

          I do know Fauci, and many others involved in the huge fear smear will make billions on treatments and vaccines.

          • Dear I got the flu: Sorry but you and all the conspiracy theorists are just that. I will believe all the experts, and there are many. You didn’t do any research otherwise you would know what the many scientists say. No, you don’t do real research, you don’t know how.

      • I got the flu: Facebook posts, Jerome Corsi, certain blogs; all false claims against Dr. Fauci. Baseless allegations meant to destroy, by dangerous people that follow lies and pass them off as facts. Conspiracy theories are running rampant in these challenging times. This is what happens when anyone doesn’t follow Trump’s agenda to back up his lies.

    • The Lancaster Mayor has another AV commie loving resident fooled into thinking China is our friend. Morons!! These people want to take over the USA. Wake up!!!

  4. Thanks to the Chinese Communist Party. That was an act of war!!! And the Democratic Communist Party perpetuates it.

    • Too bad the orange clown in the White House sat on his hands for months before acting. This is on him and his stooges. Wake up. The GOP owns this.

      • You hate the man so much you would deflect blame from Chinese Communists? They were blameless? You have Trump Derangement Syndrome and a terminal case of unpatriotic dishonor. And you’re a putz.

        Seriously, I question your mental capacity and sanity. Wait…. are you No-G0 Sleepy Joe Biden? Sorry old fella.

        • LOL, OK boomer.

          But seriously, I never deflected blame. China isn’t responsible for leading the Federal response to this crisis. Trump is.

          I know critical thinking is the antithesis to American conservatism, but come, you can do better than that.

          • I double, no triple down on my response.

            They purposely unleashed this on us and the world and all you have time for is blaming Trump. Why don’t you GTFOH and go to red Chiiiina if you take their side after what they did to us.

            You have the brains of a tardigrade and I hope you DON’T vote! Or as Sleepy No-Go Joe the molester might say: Come on, man!

          • They needed a study to come to this conclusion? Anyone with half a brain could have told us this.

      • You have been listening to all the Dem talking points again. Your President shut down travel early on and began moving resources to needed locations. He was deemed racist and an alarmist by Dems who made trips to San Fran to promote tourism. Get a clue. I believe your time in this country should be limited as you would be much happier in a place with a smart leader like Venezuela or perhaps Cuba.

        • Wow, someone with a knowledge of history and grasp of current global affairs. You da man (or woman). Most commenters here probably just keep up with the Kardashians.

          Can I join the Orange Clown Posse??

          Signing off, your intrepid correspondent, reporting the real scoop from behind enemy lines in The Socialist People’s Republic of Kalistan.

        • Who played golf and had rallies in January and February?

          Who said “That’s their new hoax”?

          Who said “It’s only 15 cases and will be gone like a miracle”?

          Who said inject bleach to kill the virus?

          Who has your head up his behind?

    • So, this is what MAGA looks like Trumpist#1. You woulda loved the original Great De;pression.

      Of course it wasn’t as Great at the Great Trump Depression we are just beginning.

      The next decade will be yours to enjoy.

      • Please refer to my reply to Vote above. You’re a putz too, but an entertaining one.

    • Trumpist: You must be a big fan of Joseph McCarthy. Now as you hear Trump’s words that Democrats are communists you repeat, repeat, repeat. The Democratic Communist Party? Reading Stormfront is poisoning your gray area.

      • Comrade Trumpist: Calling the good people that are Democrats “Communists,” really? I would say stop acting like a fool, but you’re not acting.

        • The Democrats have done untold damage to this country. They apologize and cover up for Chinese Communists who have killed hundreds of thousands so far worldwide.

          The Dims are sliding quickly into full blown socialism with Sleepy No-Go Joe appointing Bernie bros to his economic and foreign policy team, and AOC to lead his environmental advisors. Then there’s Pelosi, Omar, Talib, Pressley and many others with powerful influence in their Democratic party.

          If that isn’t socialism, I don’t know what is. Now do you know the difference between socialism and communism? Not much. Maybe read up on it on your computer.

          As an American, how can you countenance blaming Trump for these deaths? Did he inflict this on us? You are consumed by TDS, are ignorant of which you speak, and have no objectivity left. We’ll see in November what citizens in America think about it.

          • Trumpist#1

            You can’t be serious. See below for Republican/Democrat adminstration comparisons.

            Republicans can’t govern. They can’t protect us (see Katrina, 9/ll, NOW) In each case they’ve had warnings but didn’t listen.

            Republican stock market crashes, 1929, 1987, 2008 and 2020.

            Republicans have had twice the number of recessions as Democrats in the last 50 years.

            Republicans have had many times the number of indictments, convictions and prison sentences than Democrats in the last 50 years.

            REPUBLICANS>RECESSIONS>RESCUES>REPEAT

            Nothing you say can change the facts. You’re always just talking out your backside.

            If you don’t reply that’s will say enough.

  5. And that is how they do it. Shut everything down then seem surprised how bad all the economics have gotten. But have no fear. All the politicians will tell the Americans what a wonderful job they are doing at staying strong. Strong at what….accepting the trial run of socialism?

    • This isn’t socialism. If anything, this exposes the deep rot caused by unregulated capitalism. If the economy was as strong as the orange clown said it was, large corporations wouldn’t need bailouts and would have the cash on hand to maintain payrolls during the shutdowns and the Defense Production Act would have been utilized in January to start producing the supplies we need. Instead, the idiot predicted it would “go away like a miracle by April.” If we were as developed and prepared as we like to think, we would have paid sick leave and healthcare for everyone. Wake up, this ain’t socialism, it’s peak capitalism.

      • Comrade Vote:

        Perhaps you would be more comfortable in China, North Korea, Cuba, Venezuela or some other third world socialist paradise. Don’t let the door hit ya!

        • Don’t you belong in Alabama, Mississippi or Russia, Trumpist#1?

          Your politics, such as they are, don’t belong in this country or at least California.

          You’ll be much happier elsewhere rather than your constant whining here and where’s Ron and Dennis by the way?

          The 3 of you could split the cost of a U-Haul.

          You know how some guys regularly write that they’ve moved out of California like they’re showing us? What’s holding you 3 back. I’ll help ya pack.

          Go to one of those red Trumpist states and be with your own kind. You already speak the language.

          You’re welcome.

  6. This assumption is 100% correct! The citizens lost to this menace will be gone and at peace for 20 years. While most survivors will still be broke.

    • And, skyrocketing gas prices when the Saudis and Russians make up for lost revenue when our economy recovers 4 or 5 years from now.

      Yup, it will take a Democrat to clean up after Trump like President Obama did after Bush and President Clinton after the other Bush. They both left recessions unlike what President Obama left our Orange Clown aka President Bone Spur.

      Those bone spurs must kill him when he plays golf.