The local economy will largely hold steady this year and in 2008, although several key businesses mainly television and motion pictures are at risk of slowing, according to a forecast released by the Los Angeles County Economic Development Corp. Several contract issues coming to a head this year fuel the uncertainty, especially the Writer’s, Screen Actor’s and Director’s guild contracts that expire this summer and fall. It’s unclear how those negotiations will play out, and whether a strike will result, said Jack Kyser, chief economist for the group, in a statement. “There are a variety of scenarios being spun out as to what might take place,” he said. “The risk of strike, real or de facto, is high, and this would not be good news for areas of Los Angeles County with exposure to the business.” That doubt led the LAEDC to predict that entertainment jobs will rise by 4,500 in 2007 only to drop by 2,000 in 2008. For the most part, the study finds that the six basic industries are all poised for modest growth over the next two years. The county’s job growth is also expected to tally 1.1 percent, or about 43,700 jobs. The study also predicted the housing market would stabilize by the end of the year, although real estate-related industries and construction will decline. , Chris Coates
