![]() ![]() That can have a big downstream effect if those workers pull back on their discretionary spending, especially for big purchases like buying a car or a home. "The economic impact is even bigger because average compensation in the industry is considerably higher" than the average earner, he tells CNBC Make It. People who hold entertainment jobs and entertainment-adjacent roles account for almost 20% of the LA-area income, says Lee Ohanian, an economics professor at the University of California, Los Angeles. ![]() "A lot of different people are impacted surrounding the industry," Holmes says, "and it's causing them a lot of hardship." Halted productions impact all kinds of businesses, including companies that provide catering for productions, restaurants near studios, prop houses, set builders, dry cleaners, professional drivers, florists and more. The strikes don't impact just writers or actors. ![]()
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