The Long Beach job market may once again, be the target of the latest cuts that could reduce the workforce in the area. The country is slashing its defense budget significantly and as a result, many of those employed in this area in California, including Long Beach, could see a drop in employment.
The Pentagon is pushing out plans to reduce the budget for defense spending for the first time since the 1990's. In doing so, tens of thousands of California jobs in this sector, could be lost. 20 years ago when such cuts occurred, it cost the state about 500,000 jobs. The state is no longer as dependent on this type of defense spending as it once was but these job cuts especially in the rattled Long Beach job market could be problematic nonetheless. In total, about 126,000 jobs in the state could be affected by the job cut.