The Breakdown

Explaining Southern California's economy

In SoCal business news: LA county losing jobs, LA Daily News on the block?, Disney's billion-dollar bracelet

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Hope everyone survived April fool's day. Here are the stories we're following on the KPCC business desk today:

  • L.A. hasn't recorded positive job growth in the last 23 years, according to the latest UCLA Anderson Forecast, which is being presented today downtown. In fact, the county has lost more net jobs than any large metropolitan area in the nation from 1990 to 2013. The forecast predicts more unemployment ahead.
  • Digital First Media is shutting down its centralized news service, Project Thunderdome, "one of the news industry’s highest-profile experiments in centralized, digital-first, mobile-friendly, new-news-partner content creation," according to media analyst Ken Doctor. Doctor says DFM's papers, including the Los Angeles Daily News and the Long Beach Press-Telegram, will likely go on the auction block, with the company's majority owner. Alden Global Capital, likely wanting out. "They’re not yet on the market, but expect regional auctions of DFM properties (with clusters around the Los Angeles area, the Bay Area, New England, Philadelphia, and Texas) — unless Alden can find a single buyer, which is unlikely," predicts Doctor.

Got more business news you'd like us to follow? Tweet me at @thebenbergman.

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