The unemployment rate in the Inland Empire (IE) decreased 40 basis points (bps) to 9.4% in November, with a 140-bp decline compared with the previous year. San Bernardino County finished November with an unemployment rate of 9.1%, and Riverside County posted an unemployment rate of 9.6% for the same time period.
Over the past 12 months 10,500 jobs were added, a 0.9% increase compared with the previous year. Not surprisingly, industrial demand in the Inland Empire led to an increase of 8,200 jobs in the trade/transportation and utilities sector. Leisure and hospitality, educational and health services also posted job gains in the past year. An improved housing market added 2,100 construction jobs over the past 12 months. Many private sector white collar industries lost jobs including financial activities and professional and business services. Government and manufacturing also lost jobs the past year.
Source : Cushman & Wakefield