Writer's Strike Cost Los Angeles Economy $2.5 Billion
The Associated Press reports that an estimate by Jack Kyser - chief economist of the Los Angeles County Economic Development Corp - says the writer's strike cost the local Los Angeles economy $2.5 billion.
The figure includes wages lost by writers and other entertainment industry workers when the strike shut down production, according to Jack Kyser, chief economist of the Los Angeles County Economic Development Corp.
His Tuesday estimate also represents damage done to Hollywood-dependent businesses such as limousine services and caterers in the area.
The Writers Guild of America strike began Nov. 5 and ended Feb. 12, after union members reviewed a tentative contract deal and voted to return to work.
The strike lasted for 100 days so that would be $25 million per day. The $2.5 billion estimate is actual a drop from Kyser's $3.2 billion estimate from last week.
Update 2-20-08: Kyser also concerned about a possible Screen Actors Guild strike according to a Washington Poststory about his economic outlook report.
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