Study Cites Strike Fallout.An extended strike by writers and actors could push the local unemployment rate up two percentage points, to 6.9 percent, and cost the region nearly $7 billion, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a study commissioned by Mayor Richard Riordan Richard J. Riordan (born May 1, 1930) is a Republican politician from California, U.S. who served as the California Secretary of Education from 2003–2005 and as Mayor of Los Angeles from 1993–2001. Riordan ran for Governor of California unsuccessfully in 2002. . The study, based on a projected strike that would last from May through October, predicts the work stoppage would result in the loss of 81,900 jobs and greatly exacerbate the effects of the slowing national economy. The report estimates $2.5 billion in lost income in the second quarter and $4.4 billion in the third if TV and film production is shut down. Countywide, tax revenue would drop by $54.4 million. Compiled by the Milken Institute in Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. and Marina del Rey-based Sebago Associates, the report defines a "long" strike as a five-month work stoppage by the Writers Guild of America The Writers Guild of America is a term often referring to the joint efforts of the Writers Guild of America, East and the Writers Guild of America, west. Jointly, the two guilds act as the collective bargaining representative, or labor union, for writers in the motion picture and and a three-month job action by the Screen Actors Guild and the American Federation of Television and Radio Artists The American Federation of Television and Radio Artists (AFTRA) is a performers' union that represents a wide variety of talent, including actors in radio and television, as well as radio and television announcers and newspersons, singers and recording artists (both royalty . The contract between studios and writers runs out May 1. The actors' contract expires two months later. Los Angeles County Economic Development Corp. chief economist Jack Kyser has estimated even higher fallout from strikes, with job losses pegged at about 255,000 workers. He projects that each week the county economy would suffer a $250 million direct hit and a $257 million indirect blow. |
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