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California Job Recovery Has Gained Momentum in 2021; State Cannot Afford Any Slowdown Due to Covid Resurgence

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4 years ago

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State’s Unemployment Rate Holds Steady As Workforce Expands

California’s labor market continued to expand at a rapid pace in June, although job growth did slow compared to the previous month, according to an analysis released jointly by Beacon Economics and the UC Riverside School of Business Center for Economic Forecasting and Development. Total nonfarm employment in the state grew by 74,500 positions in June, down from 94,700 in May. Note that May’s gains were revised down by 9,800 in the latest numbers (from the preliminary estimate of 104,500).

Over the past five months, the state’s economy has added 558,700 jobs, representing the fastest hiring surge since the summer of 2020. These gains are welcome since, as of June 2021, there were still 1.24 million fewer people employed in the state compared to February 2020. Total nonfarm employment in California has contracted 7.0% since this time.

This compares unfavorably to the national picture, where the labor market has shrunk by 4.4% over the same period. However, because California has further to go to reach its pre-pandemic peak relative to the nation, the state should continue to see more rapid growth in the coming months.

“While California’s labor market recovery has gained significant momentum in 2021, there is still a substantial jobs deficit compared to pre-pandemic levels and the state’s economy is lagging the national recovery,” said Taner Osman, Research Manager at Beacon Economics and the UCR Center for Forecasting. “At this juncture, with the imminent expiration of extended unemployment benefits, the state cannot afford any slowdown associated with a surge in new COVID cases.”      

California’s unemployment rate held steady at 7.7% in June, unchanged from the previous month, and the state’s labor force expanded by 35,500. California’s unemployment rate remains elevated relative to the 5.9% rate in the United States overall. Since February 2020, the state’s labor force has fallen by 534,300 workers, a 2.7% decline. 

Industry Profile

At the industry level, the largest jobs gains continue to occur in the sectors hardest hit by the pandemic. While California has made up significant ground in recent months, employment levels in many of these sectors remain far below their pre-pandemic levels.

  • Leisure and Hospitality led payroll gains in June, expanding by 44,400 positions. Still, the sector has a long way to go to recover all of the jobs lost due to the economic downturn; payrolls have fallen by 482,700 (-23.5%) since its previous peak in February 2020.
  • Other sectors posting strong gains during the month were Health Care (7,700), Government (7,400), Other Services (7,200), Manufacturing (4,200), and Administrative Support (3,200).
  • A handful of sectors saw their payrolls decline in June. These included Construction (-3,000), Educational Services (1,700), Finance and Insurance (-900), Real Estate (-800), and Mining and Logging (-200).

Regional Profile

  • Regionally, job gains were led by Southern California. Los Angeles (MD) saw the largest increase, where payrolls grew by 29,700 during the month. The Inland Empire (7,500), Orange County (4,500), San Diego (3,700), and Ventura (2,000) also saw payrolls jump during the month. The Inland Empire (73.2%) has experienced the strongest recovery in the region, measured by the percentage of jobs recovered since the depths of the labor market fallout, followed by Ventura (58.4%), Orange County (57.3%), San Diego (52.8%), Los Angeles (MD) (44.5%), and Ventura (43.3%).
  • In the San Francisco Bay Area, San Francisco (MD) experienced the largest increase, with payrolls expanding by 11,900 positions in June. San Jose (2,700), Santa Rosa (1,700), Vallejo (1,200), Napa (700), and San Rafael (MD) (600) also saw payrolls expand during the month. San Rafael (MD) (64.0%) has experienced the strongest recovery in the region since the pandemic’s lows, followed by Napa (57.7%), Vallejo (54.0%), Santa Rosa (50.3%), the East Bay (47.1%), San Jose (46.9%), and San Francisco (MD) (40.3%).
  • In the Central Valley, Fresno experienced the largest monthly increase as payrolls expanded by 2,200 positions in June. Payrolls in Sacramento (1,400), Visalia (900), Chico (800), Modesto (500), and Stockton (500) increased steadily as well. Since April 2020, Stockton (83.6%) has experienced the strongest recovery in the region, followed by Redding (80.5%), Madera (63.8%), Modesto (62.3%), Sacramento (62.2%), Merced (59.1%), Fresno (57.9%) and Chico (53.0%).
  • On California’s Central Coast, Santa Barbara added the largest number of jobs, with payrolls increasing by 1,300 during the month. Salinas (800) and Santa Cruz (200) also saw payrolls expand during the month. Since April 2020, Santa Barbara (59.1%) has experienced the strongest recovery in the region, followed by Salinas (55.4%), San Luis Obispo (37.6%), and Santa Cruz (35.6%). 
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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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Strengthening Community Connections: Our Exciting New Partnership with Toyota Arena, Ontario Convention Center, and GOCAL

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3 weeks ago

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February 27, 2025

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Contributed Content | By Chris Venhoff, Senior Vice President and Inland Empire Market Leader for Consumer and Business Banking at U.S. Bank

As the Inland Empire market leader for U.S. Bank, I’m thrilled to share some exciting news: we are proud to be the Official Bank Partner of Toyota Arena and Ontario Convention Center. This partnership represents a reflection of our deep commitment to the Inland Empire and our dedication to fostering a vibrant, thriving community.

At U.S. Bank, we believe that strong partnerships drive meaningful progress. Toyota Arena and Ontario Convention Center are at the heart of the region’s culture and economy, bringing people together for world-class entertainment, business conventions, and community events. By joining forces, we’re not only expanding our presence but also creating opportunities to engage with residents, businesses, and organizations in ways that make a lasting impact.

Through our sponsorship, we’ll support concerts, sporting events, and conventions that showcase the diversity and energy of the Inland Empire. But this is only the beginning. As our partnership evolves, we’ll work closely with Toyota Arena, Ontario Convention Center, and GOCAL to introduce community-focused programs, including financial literacy workshops and charitable giving initiatives.

This partnership is designed to bring added value to the people we serve. For our customers, we’re introducing the U.S. Bank Fast Pass Lanes, providing priority access at Toyota Arena events. Special offers, exclusive event experiences, and tailored financial solutions for businesses operating in the region are just a few of the many perks we’re excited to roll out.

Our employees are at the core of our success, and this partnership allows us to recognize their dedication. Through exclusive access to events, corporate hospitality opportunities, and community volunteer programs, our team will have new ways to engage with and celebrate the community they serve.

The Inland Empire is a dynamic, fast-growing region, and we’re committed to supporting its continued success. By investing in Toyota Arena and Ontario Convention Center, we’re helping to create and sustain jobs while driving local business growth. These venues bring in visitors, revenue, and visibility, strengthening the region’s economy.

This collaboration is about more than just sponsorship—it’s about making a difference. By working together, we can elevate not just these venues but the entire Inland Empire. At U.S. Bank, we’re committed to being a partner in progress, supporting our customers, businesses, and communities every step of the way.

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Inland Empire Celebrates Entrepreneurial Excellence at Spirit Awards Gala

Published

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

Published

5 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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