Would you believe L.A. gained businesses during the recession?

Here's another example of reality trumping rhetoric. Between 2007 and 2009, L.A. County added a total of 14,127 businesses, many of them small (medium and large businesses contracted during the period). This nugget was included in a generally encouraging forecast from Beacon Economics. From the report's section on L.A.:

Despite the doom and gloom we seem to hear from our media and politicians, the reality for Los Angeles County is . . . the economy is getting better. This is evident in a number of improving economic indicators for the county, including taxable sales, venture capital, hotel occupancy rates, and yes, even employment. But the growth in these indicators isn't happening fast enough to satisfy the public's need for a rapid recovery, so people begin to look for someone to blame for the slow pace. Some are so frustrated that they blatantly deny that there is a recovery, sure that the political system is bound to bring the nation, the state, and local economies to their ultimate demise. Contrary to the beliefs of many of these naysayers, we are clearly on the road to recovery.

LABO readers might not be surprised by that conclusion - we've been saying much the same thing for months. By the way, Beacon says one reason for the small business growth could involve frustrated workers who haven't been able to find a job and are instead going out on their own. That's an interesting theory, although it's worth noting that even in good times small businesses often grow the most.