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California Job Growth Keeps on Rolling

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2 years ago

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State Has Added 250,000 Jobs in 2023 Alone… But Labor Force Struggles to Continue; State Unemployment Rate Remains Elevated Compared To Nation

California’s labor market continued to expand in May, with total nonfarm employment in the state growing by 47,300 positions, according to an analysis released today by Beacon Economics. April’s gains were also revised up to 69,900 in the latest numbers, a 2,900 increase from the preliminary estimate of 67,000.

As of May 2023, there are now 415,600 more people employed in California compared to February 2020, the pre-pandemic peak of payroll employment. Total nonfarm employment in the state has grown 2.4% during this time compared to a 2.5% increase in the nation as a whole. From May 2022 to May 2023, California also increased payrolls by 2.4%, trailing the 2.7% increase nationally over the same period.

“Although the writers’ strike and recent tech industry layoffs have captured headlines, overall, California employers have continued to expand payrolls,” said Taner Osman, Research Manager at Beacon Economics. “In the first five months of this year, the state’s economy has added more than 250,000 jobs, and during a time when many forecasted that we’d be in recession. Moreover, we haven’t yet moved into a seasonally strong period of the year.”

California’s unemployment rate remained at 4.5% in May, unchanged from the previous month. The state’s unemployment rate remains elevated relative to the 3.7% rate in the United States overall. California is continuing to struggle with its labor supply, which grew by 24,700 in May, an increase of 0.1% on a month-over-month basis. Since February 2020, the state’s labor force has contracted by 171,200 workers, a 0.9% decline.

Industry Profile  

  • At the industry level, job gains were broad-based in the latest numbers. Health Care led the way with payrolls expanding by 15,300, an increase of 0.6% on a month-over-month basis. The Health Care sector accounted for nearly one in three of the net jobs added in the state in May. Health Care payrolls are now up 5.4% on a year-over-year basis.
  • Professional, Scientific, and Technical Services was the next best performing sector, adding 11,600 jobs, a month-over-month increase of 0.8%. Professional, Scientific, and Technical Services payrolls are now up 3.3% on a year-over-year basis.
  • Other sectors posting strong gains during the month were Leisure and Hospitality (9,800 or 0.5%), Construction (6,500 or 0.7%), Other Services (5,700 or 1.0%), Retail Trade (5,200 or 0.3%), Transportation, Warehousing, and Utilities (2,400 or 0.3%), Government (2,200 or 0.1%), Education (1,100 or 0.3%), and Finance and Insurance (1,000 or 0.2%).
  • Payrolls decreased in only a handful of sectors in May. Wholesale Trade saw the largest declines, with payrolls falling by 5,800, a drop of 0.9% on a month-over-month basis. The only other sectors with significant job losses during the month were Manufacturing (-5,700 or -0.4%) and Information (-2,800 or 0.5%).

Regional Profile

  • Regionally, job gains were led by Southern California. Los Angeles (MD) saw the largest increase, where payrolls grew by 8,400 (0.2%) during the month. The Inland Empire 7,700 or 0.3%), Orange County (3,500 or 0.2%), San Diego (3,300 or 0.2%), and Ventura (1,600 or 0.5%) also saw their payrolls expand during the month. Over the past year, San Diego (2.9%), Orange County (2.9%), and El Centro (2.9%) saw the fastest job growth in the region, followed by Los Angeles (MD) (2.5%), Ventura (2.2%), and the Inland Empire (1.1%).
  • In the San Francisco Bay Area, the East Bay experienced the largest increase, with payrolls expanding by 4,700 (0.4%) positions in May. San Francisco (MD) (3,600 or 0.3%), San Jose (1,400 or 0.1%), San Rafael (MD) (500 or 0.4%), Vallejo (400 or 0.3%), and Napa (200 or 0.3%) also saw payrolls expand during the month. Over the past 12 months, Napa (2.9%) and San Francisco (MD) (2.9%) have enjoyed the fastest job growth in the region, followed by San Jose (2.8%), Vallejo (2.4%), the East Bay (2.3%), Santa Rosa (2.2%), and San Rafael (MD) (1.5%).
  • In the Central Valley, Sacramento experienced the largest monthly increase, where payrolls expanded by 6,800 (0.6%) positions in May. Payrolls in Bakersfield (1,200 or 0.4%), Fresno (1,100 or 0.3%), Modesto (800 or 0.4%), Visalia (400 or 0.3%), and Hanford (400 or 0.9%) also saw their payrolls jump during the month. Over the past year, Hanford (6.4%) has enjoyed the fastest growth, followed by Madera (4.0%), Fresno (3.3%), Visalia (3.1%), Yuba (3.0%), Sacramento  (2.8%), Modesto (2.7%), Redding (2.5%), Stockton (2.3%), and Bakersfield (2.3%).
  • On California’s Central Coast, Santa Barbara (1,000 or 0.5%) added the largest number of jobs. Salinas (700 or 0.5%), San Luis Obispo (400 or 0.3%), and Santa Cruz (200 or 0.2%) also saw payrolls increase during the month. From May 2022 to May 2023, Salinas (4.0%) has added jobs at the fastest rate, followed by San Luis Obispo (3.2%), Santa Cruz (3.1%), and Santa Barbara (3.0%).
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The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.

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Business

Inland Empire Celebrates Entrepreneurial Excellence at Spirit Awards Gala

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2 months ago

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November 25, 2024

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Honoring Visionary Leaders Driving Innovation and Community Impact

The Spirit of the Entrepreneur Awards Gala, held at the Riverside Convention Center, celebrated the brightest entrepreneurial talent across the Inland Empire. Among the evening’s finalists was Edward Ornelas, Jr., President & CEO of the Inland Empire Regional Chamber of Commerce, who was honored in the Social Entrepreneur category for his outstanding leadership and commitment to the region.

Although Ornelas did not win, the Social Entrepreneur award went to Cesar Navarrete, President & CEO of Children’s Fund, a proud Chamber member. “Being a finalist alongside such remarkable leaders is an incredible honor,” said Ornelas. “I am especially thrilled to see Cesar, a Chamber member, recognized for the transformative work he’s doing to improve the lives of children in our community. It’s a proud moment for us all.”

Another highlight of the evening was the recognition of Hilda Kennedy, President & Founder of AMPAC Business Capital, another Chamber member, who was awarded the Top Female Entrepreneur category. Hilda’s leadership at AMPAC, a mission-driven business lender, has been instrumental in empowering small businesses and fostering economic growth across the region.

“It’s amazing to see leaders like Hilda and Cesar being celebrated for their contributions,” added Ornelas. “Their achievements underscore the talent and dedication of entrepreneurs in our Chamber and across the Inland Empire. They are setting the standard for excellence and impact in their fields.”

The evening also featured the prestigious “Best of the Best” Award, sponsored by Best Best & Krieger LLP, which was awarded to Mauro Gomez, Chief Growth Officer of Anita’s Mexican Foods Corp.. Based in San Bernardino, Anita’s Mexican Foods has grown from modest beginnings into a leader in the food production industry under Gomez’s strategic direction.

The Spirit of the Entrepreneur Awards Gala continues to shine a spotlight on the transformative work of Inland Empire entrepreneurs, celebrating their innovation, resilience, and commitment to the community.

For more information about the Spirit of the Entrepreneur Awards, visit https://www.spiritawardsie.com.

For more details about the Inland Empire Regional Chamber of Commerce and its members, visit www.iechamber.org.

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Business

Inland Empire Chamber President Edward Ornelas, Jr. Named Finalist for Spirit of the Entrepreneur Awards

Published

3 months ago

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October 16, 2024

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Celebrating Leadership and Innovation: Ornelas Recognized for Advancing Business Growth and Social Impact in the Inland Empire.

Edward Ornelas Jr., President of the Inland Empire Regional Chamber of Commerce and owner of the Inland Empire Business Journal, has been named a finalist in the famed 2024 Spirit of the Entrepreneur Awards. Ornelas is honored in the Social Entrepreneur category for his remarkable leadership and vision in fostering business growth and development across the Inland Empire. The award ceremony will take place on November 21, 2024, at the Riverside Convention Center, celebrating the best of entrepreneurship throughout the region.

The Spirit of the Entrepreneur Awards, often regarded as the “Oscars of Business” in the Inland Empire, recognizes the innovation, leadership, and impact of outstanding entrepreneurs across various sectors. Ornelas joins a select group of 34 finalists, each representing the entrepreneurial spirit and resilience that define the I.E. business community. The Social Entrepreneur category highlights individuals like Ornelas, whose work goes beyond profit to positively impact society.

In his role as President of the Inland Empire Regional Chamber of Commerce, Ornelas has been a powerful advocate for the business community, connecting small businesses with essential resources and creating opportunities for growth. As the owner of the IE Business Journal, the only publication in the region dedicated solely to business news, Ornelas has provided a platform for local businesses to thrive by sharing their stories and promoting their success. His innovative, forward-thinking approach to marketing has earned him a reputation as a “visionary” and a “get-things-done” leader across both public and private sectors.

“I’m deeply honored to be recognized as a finalist for the 2024 Spirit of the Entrepreneur Awards. This nomination is a reflection of the incredible businesses and community leaders across the Inland Empire who inspire me every day. At the Inland Empire Regional Chamber of Commerce, our mission is to empower businesses and foster economic growth, and this recognition highlights the collective efforts of our entire community. I’m excited for what the future holds as we continue to work together to make a lasting impact,” said Ornelas.

Other notable finalists for the 2024 Spirit of the Entrepreneur Awards include leaders in healthcare innovation, green technology, and digital transformation. Each finalist, selected by a distinguished panel of judges, represents the best in their respective industries and contributes to the Inland Empire’s continued growth as a hub of innovation and entrepreneurship.

The Spirit of the Entrepreneur Awards is an annual event that brings together business leaders, community advocates, and entrepreneurs to celebrate the entrepreneurial excellence that drives the region’s economy. This year’s event promises to be a night of inspiration and recognition, showcasing the achievements of finalists like Ornelas, who continue to elevate the Inland Empire’s business landscape.

For more information about the Spirit of the Entrepreneur Awards and to see the full list of finalists, visit www.spiritawardsie.com. 

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Business

CBRE Opens Newly Renovated, Tech-Enabled Office in the Inland Empire

Published

5 months ago

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August 23, 2024

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The office is designed to support hybrid work and employee wellbeing

CBRE announced the opening of its new 10,159-sq.-ft. office suite on the ground floor of 4141 Inland Empire Blvd., in Ontario, Calif.

The office is part of CBRE’s Workplace360 program, which features innovative office designs and functionality, including in-office technology and a wider variety of collaborative spaces designed to support hybrid working. CBRE launched its Workplace360 program over a decade ago in its downtown LA office. Since then, the company has opened more than 100 Workplace360 offices worldwide, continually updating the program as work habits have changed over the years, especially with the increase in hybrid work.

“Our newly renovated space provides us with a great opportunity to deliver a collaborative, experience-driven workplace that supports hybrid work,” said Ian Britton, managing director and market leader for CBRE in Inland Empire. “Our Workplace360 office will also serve as a showpiece to help clients conceptualize flexible work strategies for their employees.”

The renovated office has several different work areas including focus, huddle, living, and conference rooms. The open-space lobby, known as the “Heart,” features a variety of seating and a communal space for collaboration. A large 86” media display with a speaker system welcomes employees, visitors, and clients and assists with onsite events.

New office technology, including touch-enabled video conference rooms, allows for hybrid work collaboration between in-office and remote employees and clients. Additionally, the Mt. Baldy conference room has Liquid Galaxy, a geospatial visualization platform set across large format curved screens providing a cinematic presentation experience. This room has an operable wall that opens to the Heart, creating an onsite event space.

A cornerstone of the Workplace360 model is its free-address approach, in which there is no dedicated seating. The free-address approach allows employees who are in the office on a given day to use any workstation or office.

The office’s design led by CBRE Design Collective, took inspiration from the Inland Empire’s orange groves and mountainous landscapes of Mt. Baldy. Images of Route 66 from local photographer VC Torneden features the role the highway plays in the area. 

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