Study debunks some myths of L.A. economy.True or false: "Since 2000, the rich in the L.A. area are getting richer and the poor are getting poorer." If you answered "true," then you've succumbed to one of the numerous "economic myths" common in discussions of the Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, economy, 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. the UCLA UCLA University of California at Los Angeles UCLA University Center for Learning Assistance (Illinois State University) UCLA University of Carrollton, TX and Lower Addison, TX Anderson Forecast released last week. The quarterly forecast devotes one section to examining these myths. "Some turn out to be true, some wildly inaccurate, but most simply represent leaping one or two steps beyond the conclusions that the (economic) data support," said report author Ryan Ratcliff. Take the statement on wealth. While Ratcliff states that data support the conclusion that the nation's rich are getting richer while the poor are getting poorer, the same does not hold tree for L.A. County. The share of L.A. County households with incomes over $100,000 actually stayed flat at about 18 percent between 2000 and 2004, while the share of households under $25,000 dropped 1.1 percent--from 28 percent to 27 percent, according to data from the U.S. Census Bureau Noun 1. Census Bureau - the bureau of the Commerce Department responsible for taking the census; provides demographic information and analyses about the population of the United States Bureau of the Census . "At most, we may be seeing the rich get richer faster than the poor are getting richer," Ratcliff said. Another "myth" the Anderson Forecast explores is the statement: "High home prices are driving residents from the coast to the Inland Empire In·land Empire A region of the northwest United States between the Cascade Range and the Rocky Mountains, comprising eastern Washington, eastern Oregon, northern Idaho, and western Montana. Farming, lumbering, and mining are important to the area. ." While Ratcliff concedes that this phenomenon may be occurring, he said it's also possible that residents who move from coastal counties like Los Angeles may move out of the region entirely, while newcomers to the region settle in the Inland Empire. What's more, he said that housing prices may not be the reason behind most of the moves. He cited California Department of Finance The California Department of Finance is located in Sacramento, California. It is responsible resource allocation for the state’s annual financial plan. As part of the executive branch of the state, it is within the fold of the governor of California's administration. figures to show that only 44 percent of those moving between counties said housing prices were the primary factor. One in four said their move was "job-related." |
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