By Beth Hanna | Thompson on Hollywood November 16, 2012 at 1:13PM
A report issued Friday by the Los Angeles Economic Development Corp. finds that Hollywood was able to generate $47 billion in economic output in L.A. county in 2011, accounting for 8.4% of the area's total output.
While the job tally is 8,000-shy of what it was in 2008, 2011's 122,000 industry jobs shows a significant recovery from recession-roiled 2009, when the number was hurting at just over 117,000.
And Hollywood pays well, too. The motion picture sector's 117,000 workers averaged an annual pay rate of $96,300, while the 17,000+ employees made up of agents, managers and independent artists averaged an enviable $261,200. The 18,000 radio- and TV-sector workers averaged an annual pay rate of $127,000, with the 440 workers in sound production averaging salaries of $103,000.
Meanwhile, the film industry has a "ripple effect" on jobs, being directly or indirectly responsible for an additional 586,000 L.A. jobs in catering, flowers, etc.