Los Angeles County is often a very competitive market pertaining to financial services. Just as regarding June 2014, there were a complete regarding 111 Federal Deposit Insurance Corporation-insured institutions operating 1,811 offices for the area within entire deposits associated with $317.3 billion. ones top 10 banks at the county, ranked by deposit size, usually are listed within Table 1 towards right after page.Although national banks obtain a strong presence on the area, your financial landscape of Los Angeles County is usually diverse AND ALSO 97 of an 111 financial institutions in the location record less than 1 percent of an total market share.Los Angeles County’s economy will be highly diverse AS WELL AS is home to be able to numerous industries including; manufacturing, trade, ALONG WITH entertainment.5 the county will be the major manufacturing center for the U.S., employing 365,600 workers inside manufacturing fields with 2012.6 Trade can be additionally the major driver of a local economy, and also the Los Angeles Customs District, which include your own ports regarding long Beach, Los Angeles, Port Hueneme, IN ADDITION TO Los Angeles International Airport (LAX), are your nation’s biggest trade district with 2013, with a two-way trade signal of $414.8 billion. Plans usually are underway to help expand your ports IN ADDITION TO LAX airport, opening your own county up to be able to even extra import ALONG WITH export opportunities.7 Bolstered because of the presence involving Hollywood, entertainment is in addition a option industry throughout Los Angeles County,making up 63 percent associated with California’s complete entertainment employment.8 about the last year, eight out of the eleven main industries with Los Angeles County posted year a lot more than year growth AS WELL AS There are strong signs of improvement at the economy. 9 your improvement will be excess evidenced by the unemployment data viewable in Table 2. your own county unemployment rate features seen a great consistent decline because end of any awesome Recession, ALONG WITH while your unemployment rate fell, ones labor The stress grew, indicating increasing employment growth. Despite these improvements, the unemployment rate remained nearly a percentage point higher compared to ones statewide rate at the end of any assessment period, indicating that this local recovery may be lagging behind your state recovery within a series of aspects. in the end of your assessment period, there were 406,494 unemployed men and women in the county, accounting regarding 30 percent of any stat total.
