Study places a high cost on Hollywood writers strike

Fallout from the Hollywood writers strike will cost California's already struggling economy an estimated $2.1 billion, a new report concludes. Although the writers strike ended four months ago, effects of the three-month walkout continue to ripple across the state's economy, causing a projected net loss this year of 37,700 jobs directly and indirectly tied to the entertainment industry, according a study released Thursday by the Milken Institute. The report is the first to examine the statewide costs of the writers' work stoppage and it is at significant variance with prior estimates, pointing out the difficulty economists have in reaching a consensus because of varying methodologies. An earlier study by the UCLA Anderson Forecast projected that the strike would cost Los Angeles County economy roughly $380 million, while the Los Angeles County Economic Development Corp. estimated a local impact of $2.5 billion.
http://www.latimes.com/business/printedition/la-fi-writers6-2008jun06,0,4318700.story
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