COVID-19 hits LA economy harder than Great Recession, says Mayor Garcetti during State of the City

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Grand Central Market in downtown LA is largely empty of customers. As stay-at-home orders continue, what’s the economic forecast for the city? Photo credit: Ted Soqui.

California’s stay-at-home orders have been in place for a month. While they have helped flatten the curve, they’ve also caused tax revenues in LA to take a nosedive. Nonessential businesses will continue to be closed for a while, and some won’t survive. 

LA Mayor Eric Garcetti gave his annual State of the City address on Sunday evening. He said his administration is faced with a crippling outlook in the coming months and fiscal year.

Today, the mayor proposed a $10.6 billion city budget, which includes a month-long furlough and hiring freeze. The budget still needs approval from the LA City Council.