More Jobs in 2014

Faculty fellow Bing Bai, from the Institute for Spatial Economic Analysis (ISEA) at the University of Redlands, School of Business, recently wrote an article titled “California Starts the New Year with Rapid Job Growth" which revealed that, for those actively seeking jobs who have been looking for employment, there is good news in the forecast. According to a study done by the ISEA, the Inland Empire, “The year-over-year job growth in Riverside and San Bernardino counties has improved dramatically this month with the average job growth rate increasing from 1.14% in December 2013 to 3.08% in January 2014,” Bai writes. Although this is good news, the overall month-over-month job growth is not as optimistic as the overall year-over-year growth in January 2014. In San Bernardino and Riverside counties, Bai writes, "The overall month-over-month job growth in Southern California worsens with almost the whole region stepping into the moderate job loss zone with a few scattered spots in Inland Empire.” According to data from www.census.gov, the California County-Level Economic Forecast 2013-2040 states, “The Riverside County labor market began to improve in 2011, and growth accelerated in 2013.” The county added a total of 15,600 jobs over the past year, representing an increase of 2.9%. From 2013 to 2018, employment growth will be broad-based. Employment in construction, manufacturing, and professional services will rise rapidly, each growing by more than 20 percent over the next five years." According to the Bureau of Labor Statistics in July 2013, the unemployment rate was 12.90%, and in December 2013, the unemployment rate was 10.60%. This shows that the unemployment rate is slowly falling over time. The improvements in the job sector from 2013 to 2014 are significant. For job seekers still searching for jobs in the Inland Empire, the statistics are promising and an optimistic sign.