Tech Salaries Hit $125K Average as L.A. County Works Toward 'Inclusive Economic Growth'

Joe Bel Bruno
Joe Bel Bruno is dot.LA's editor in chief, overseeing newsroom operations and the organization's editorial team. He joins after serving as managing editor of Variety magazine and as senior leadership in spots at the Los Angeles Times, Wall Street Journal and Associated Press. He's a veteran journalist that loves breaking big stories, living back in L.A., a good burrito and his dog Gladys — not necessarily in that order.
Tech Salaries Hit $125K Average as L.A. County Works Toward 'Inclusive Economic Growth'

Los Angeles County, a Southern California slice of America where 10 million residents churn out an economy rivaling most nations, appears at at a tech employment inflection point.

The Los Angeles Economic Development Corp. reported Wednesday that it expects a 4.3% unemployment rate this year — a razor-sharp margin from what county economists projected 12 months ago. The national unemployment rate now hovers at 3.6%, and California a few ticks higher.


The number of Angelenos expected to secure new jobs this year should hit about 50,000, according to calculations done via reports and statistics. But, as California's unemployment rate is stacked up against the national average, the LAEDC is flashing concerns about the right kind of jobs fueling the Golden State's economy.

The tech takeover — from automated HR departments to Hollywood's streaming prowess — is taking hold. And it's leaving California's prognosticators wondering where employment is going.

"Policymakers truly keen on ensuring sustainable and inclusive economic growth will need to focus not only on making Los Angeles ready for technology- and service-oriented work (and shielding them from the worst ravages of automation)," according to the report that dot.LA reviewed and will be released on Wednesday at an event in downtown Los Angeles.

"But they must also focus their efforts on measures that help more Angelenos afford decent (homes) for themselves and their families."

Indeed, the LAEDC reports that tech jobs — including all the Hollywood careers created by streaming and digital platforms — are among the top wage earners. The report lists software/developers/apps salaries at an average of $113,700 a year, while software/developers/systems jobs hit $124,500 a year.

Among the lowest earners in the payroll report by the LAEDC, waiters took home an average of $25,000 a year; cashiers garnered $24,700; and broader laborers in Los Angeles County received about $28,000 in compensation.

The LAEDC also weighed in on housing costs as part of the county's broader financial issues.

The commission reported that the average price of a home in L.A. county tipped in at $600,000. Building permits in the county dropped from 107,433 last year to a projected 92,000 in 2021.

"This failure to produce adequate housing supply will translate into higher median home prices," according to the report. "While there are any number of reasons why people choose to leave the state, or to put off having children, the dominant story is one of a housing markets so overheated that it is becoming increasingly less practical for those who do not already own a home to buy one."

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Regard Raises $15M for AI-Powered Software That Help Doctors Diagnose Patients

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Regard Raises $15M for AI-Powered Software That Help Doctors Diagnose Patients
Courtesy of Regard

Culver City-based health care startup Regard, which uses AI-driven software to help physicians accurately diagnose patients, has raised $15.3 million in Series A funding.

Pasadena-based Calibrate Ventures and Colorado-based Foundry Group led the investment in Regard, formerly known as HealthTensor. Other investors that participated in the round include TenOneTen Ventures, Susa Ventures, Brook Byers of Byers Capital and Dropbox CEO Drew Houston. The new funding will be used to grow Regard’s team and customer base, the company said in a press release.

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This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund
Image by Joshua Letona

This week in “Raises”: A local healthcare startup secured funding to help grow the team and deploy its software to more physicians and hospitals, while Black-led, seed-stage venture capital firm surpassed its goal for its second fund.

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This LA-Based Accelerator Seeks To Foster the Next Generation of Ocean Tech Startups

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

This LA-Based Accelerator Seeks To Foster the Next Generation of Ocean Tech Startups
Photo courtesy of the Port of Los Angeles.

San Pedro-based Braid Theory is one of the growing number of accelerators in the country looking to grow the so-called blue economy, which spans a range of ocean-related industries and is estimated at $2.5 trillion a year.

The accelerator is accepting online applications until July 18, with its second-ever program kicking off in August.

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