The unemployment rate in the Inland Empire (IE) decreased 10 basis points (bps) to 9.4% in February, with a 140-bp decline compared with the previous year. San Bernardino County finished February with an unemployment rate of 9.3%, and Riverside County posted an unemployment rate of 9.5% for the same time period.
Over the past 12 months 36,800 jobs were added, a 3.0% increase compared with the previous year. Not surprisingly, industrial demand in the Inland Empire led to an increase of 9,500 jobs in the trade/transportation and utilities sector. Office using job sectors including professional and business services and educational and health services also posted job gains in the past year. An improved housing market added 3,000 construction jobs over the past 12 months.
Source : Cushman & Wakefield