05/08/2010 05:12 am ET Updated May 25, 2011

Forbes: LA Among Cities Where Recession Is Easing

File this one under "for whatever its worth', but Forbes magazine has ranked Los Angeles #9 in its list of cities where the recession is ending.

According to the article:

California was perhaps hit hardest by the housing crisis. In spite of that, Los Angeles rises above the rest of the state, and other big cities in the country, to No. 9 on our list. Although the Golden State's real estate woes began earlier and were more pronounced than in large parts of the country, they began easing sooner.

Los Angeles has strong banking and finance industries and a housing market that, while it suffered from a major pricing bubble and bust, has seen a resurgence of demand.

In light of the recent city layoffs, school cutbacks and ongoing budget crisis, it seems a bit premature to be breaking out the champagne.