Behind the staggering economic toll of the L.A. wildfires
An aerial view of homes and businesses that were destroyed in the Eaton fire in Altadena last month. A massive rebuilding effort is underway across Los Angeles County.
(Allen J. Schaben / Los Angeles Times)
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- Estimates of the total economic loss from the wildfires have ballooned to more than $250 billion.
- A massive regional recovery effort is underway, which will benefit some sectors while others suffer from displaced workers and customers.
- Countywide, gross domestic product is expected to drop by an estimated $4.6 billion this year.
A disastrous spate of wildfires last month leveled thousands of homes and businesses, changing the course of people’s lives and disrupting the economic balance of major industries across Southern California.
The financial losses are staggering. Estimates of the toll in the Los Angeles region have swelled to more than $250 billion, making it one of the costliest natural disasters in U.S. history.
