WGA Strike Took $2.5 Billion Toll on L.A. Economy

LOS ANGELES, February 20:
The 100-day strike by the Writers Guild of America cost Los Angeles an
estimated $2.5 billion, according to Jack Kyser, the chief economist of the Los
Angeles County Economic Development Corporation (LAEDC).

Kyser’s estimates were
released today as part of LEADC’s annual Economic Forecast and Industry Outlook
presentation. The $2.5 billion includes wages lost by writers and other
industry workers, as well as the damage done to businesses that depend on
Hollywood, such as limousine services and caterers.

The $2.5 billion is less
than Kyser’s previous estimate of $3.2 billion. According to reports, the
153-day strike in 1988 cost $500 million in lost wages.

—By Mansha Daswani