麦肯锡-洛杉矶实现包容性经济增长的机会（英）.docx

McKinsey& Company;- , Ill , 一 WtMji隹M wl II I!.R_ H. Ib一Rewritingthescript:与LAsopportunitytobuiafaster-growing,more翳E«inclusiveeconomy1.ACountyisaglobalculturalcapital,withthelargesteconomyintheUnitedStates.Yetboldactionmaybeneededtodriveinclusivegrowthinthenextdecade.ByAshwinAdarkar,TolianGjikazJonathanLaw,TiniWard,LolaWoetzel,andYenliWong.Copyright©2023McKinsey&Company.Allrightsreserved.Thispublicationisnotintendedtobeusedasthebasisfortradinginthesharesofanycompanyorforundertakinganyothercomplexorsignificantfinancialtransactionwithoutconsultingappropriateprofessionaladvisers.NopartofthispublicationmaybecopiedorredistributedinanyformwithoutthepriorwrittenconsentofMcKinsey&Company.Rewritingthescript:LA,sopportunitytobuildafaster-growing,moreinclusiveeconomyContentsIntroduction1Challenge1：Thebusinessenvironmentindustryshiftsandthedifficultyofdoingbusiness3inLAChallenge2:Talentsupplygapsandevolvingskillsneeds10Challenge3：Accesstoaffordablehousing,convenienttransportation,andhigh-speed16broadband1.A,Sblockbustersequel：Aneweraofeconomicgrowthforallbypromotinginnovation,20enablingtheregion,sconsiderabletalent,andimprovingaffordabilityAcalltoaction27LosAngelesCountyhasthelargesteconomyintheUnitedStatesoneofthelargestintheworld,infactandoverthepastthreedecadesdemonstratedstrongproductivitygrowthrelativetotherestofthecountry(Exhibit1)?Itishometodiverse,talentedAngelenos,fast-growingindustrieswithstrongspecialization,andimaginationandcreativitythatfuelsinnovationacrossitseconomy.Withthiscombinationof“uniquelyLA“assets,thecountyhasanabundanceofopportunitiestoshowcaseitspotentialforaccelerated,inclusiveeconomicgrowth(seeSidebar,“Methodology'').Yet,despitethesestrengths,LAhasnotmatcheditspeercounties,northeUnitedStates,inothergrowthareasGDPgrowth,employmentgrowth,andpopulationgrowth(ExhibitI).GDP (current US $), World Bank, May 2023; Gross domestic product by county, 202lr United States Bureau of Economic Analysis, December 8, 2022.See sidebar: 4zMethodoIogy/Toputthemagnitudeofslowereconomicgrowthintoperspective,zoominginonemploymentgrowth:ouranalysisshowsthatifLACountyhadmatcheditspeers,averageemploymentgrowthrateinthedecadefollowingtheGreatRecession,325,000moreAngelenoswouldbeemployedtoday.Quarterly census of employment and wages. United States Bureau of Labor Statistics, May 2023; McKinsey analysis, taking shifting industry dynamics into account.Exhibit11.osAngelesCountyhasoutperformedtheUnitedStatesinproductivitygrowthbutgrowthhasbeenslowerinotherkeyeconomicmeasures.Productivity,GDPperemployee,$thousandCAGR1981-2022,%Employmentgrowth,CAGR1981-relativeto1981,%2022z%319812022Source： Moods Analytics； US Bureau of Economic Analysis； US Census Bureau; McKinsey analysisCAGR 1981-2022,%Populationgrowth,relativeto1981,%32502WhileLAisamulticulturalhubatleast130countriesoforiginarerepresentedinLACounty,sPopuIationJoanne Kim and Tracy Hadden Loh, "What the recovery from the Great Recession reveals about post-pandemic work and cities," Brookings Institution, March 2,2021."Country of birth of foreign-bom population Los Angeles County: Census estimates, 2021, 2020 and 2010/ Los Angeles Almanac, accessed May 2023.-LAresidentsexperiencedifferenteconomicoutcomesandqualityoflifeacrossdemographicgroups.Forinstance.LatinoandBlackAngelenoshaveanaveragehouseholdincomeof$65,000and$54,000,respectively,comparedto$97,000forWhiteAngelenosand$89,000forAsianAngelenos?BlackandLatinoAngelenosalsoexperiencehigherpovertyrates,lowerlevelsofeducationalattainment,andahigherpercentageoftheirpopulationunabletoearnalivingwageincomparisontotheirAsianandWhitepeers."Median income,- 2017-2021 American Community Survey Syear estimates, United States Census Bureau, June 2023.The living wage of $75K per household is based on MIT's IiVi阳 wage calculator and represents the average living wage across household type distributions in LA: "Living wage calculator," Massachusetts Institute of Technology, June 2023. American Community Survey, United States Census Bureau, June 2023; McKInsey analysis.Withoutequitableaccesstoopportunityandwell-payingjobs,thesegapsmaypersistintothefutureanddiluteLA,seconomicpotential.The case for inclusive growth, McKinsey, April 23, 2021.ToaccelerateandenablebroaderzmoreinclusivegrowthinLA,wesoughttounderstandopportunitiesandchallengesanddevelopsolutionsacrossseveraleconomicsectors,spanningthreekeyareas:thebusinessenvironmenttalent,andinfrastructure.Eachoftheseareascouldbecriticaltoassuringsustainable,inclusivegrowth,andeachcanhavematerialopportunityforLA.ThisreportaimstoprovideacommonfactbaseandthoughtstartersthatinspireLA,sstakeholdersacrosspublic,private,andsocialspherestowrite,produce,andreleaseablockbusteronhowtotransformLA,seconomyintoonethatworksbetterforeveryone.MethodologyTheauthors*decisiontobasethisreportonLosAngelesCounty,ratherthantheLosAngeles-LongBeach-Ana