Downey appears to be a quiet residential city, but a closer look at its economic structure reveals it to be quite solid.

The healthcare sector is estimated to have the largest share in the local economy, making healthcare a key pillar of the city. PIH Health Downey, Kaiser Permanente Downey, and the nationally ranked rehabilitation hospital Rancho Los Amigos National Rehabilitation Center are located within or adjacent to the city.

In particular, Rancho Los Amigos is the largest employer in Downey, employing about 2,500 people and providing a strong foundation for healthcare jobs.

Historically, the connection to the aerospace industry cannot be overlooked. The major facility of North American Aviation (later Rockwell, subsequently acquired by Boeing), which produced the command and service modules for NASA's Apollo and Space Shuttle programs, was located here, earning Downey the nickname 'Home of the Apollo.'

That site has now transformed into a commercial and logistics complex known as Downey Landing, repurposing the past industrial heritage into a current commercial hub.

Retail and dining are also important sectors. Along Firestone Blvd, Lakewood Blvd, and Imperial Hwy, shops and restaurants are densely packed, with the large Stonewood Center mall and several strip malls catering to local consumers. The unemployment rate is not significantly different from the California average, and the job market is connected to nearby Long Beach and Los Angeles, providing a wide range of commuting job options.

Korean businesses are steadily increasing as well. With Korean markets, hair salons, and small businesses affiliated with churches gradually establishing themselves, residents can now find a certain level of Korean community infrastructure without having to travel to LA's Koreatown.

Thanks to a well-distributed structure of healthcare, retail, and logistics, the city is considered relatively resilient to economic fluctuations.