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People On The Move: Nicole Sanchez

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PEOPLE ON THE MOVE

C.W. Driver Companies, a premier builder, hired Nicole Sanchez as director of project development serving Los Angeles, Orange County and the Inland Empire. With more than 10 years of experience, Sanchez will strategically lead business development efforts for Driver’s Special Projects Group by being a champion of the firm’s services.

The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.

Career & Workplace

California’s Worker Shortage Struggle Continues…And Likely to Continue in 2023

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Job Growth Modest In Latest Numbers; Unemployment Rate Unchanged

California’s labor market expanded modestly in the latest numbers, with total nonfarm employment in the state growing by just 16,200 positions during December, according to an analysis released jointly by Beacon Economics and the UCR School of Business Center for Economic Forecasting and Development. November’s gains were also revised down to 19,900 in the latest numbers, a 6,900 decrease from the preliminary estimate of 26,800.

Overall, California added jobs at a healthy pace in 2021 and 2022. As of December 2022, the state had recovered all of the jobs that were lost in March and April 2020 at the pandemic’s outset, and there are now 70,000 more people employed in California compared to February 2020. Over this time, total nonfarm employment in the state has grown 0.4% compared to a 0.8% increase nationally. California’s economy increased payrolls by 3.6% from December 2021 to December 2022, outpacing the 3.0% increase nationally over the same period.

“During the year, California’s employers added jobs more quickly than was the case in the national economy, but labor shortages in the state dampened job growth towards the end of the year and will continue to be a drag on job growth in 2023,” said Taner Osman, Research Manager at Beacon Economics and the Center for Economic Forecasting.

Indeed, the state’s struggle to add available workers continues. In December, the state’s labor force contracted by 26,800 workers. Since February 2020, California’s labor force has fallen by 313,600 workers, a 1.6% decline. This lack of workers made it difficult for some employers to bring on the additional staff they typically recruit during the holiday season. California’s unemployment rate held steady at 4.1% in December, unchanged from the previous month. While this figure is near historic lows, the state’s unemployment rate remains elevated relative to the 3.5% rate in the United States overall.

Industry Profile  

  • Employment in nearly half of the job sectors in California now exceed their pre-pandemic levels; sectors that were hit the hardest by the pandemic have yet to recover all the jobs that were lost.
  • Health Care led job gains in December, with payrolls expanding by 8,900. Health Care payrolls are now 4.4% above their pre-pandemic peak.
  • Other sectors posting strong gains during the month were Construction (7,500), Government (6,000), Leisure and Hospitality (5,300), Professional, Scientific, and Technical Services (4,500), Other Services (1,300), and Real Estate (1,100).
  • Retail Trade (-9,500) posted the most job losses during the month. Other sectors with significant job losses were Information (-6,100), Wholesale Trade (-2,000), and Administrative Support (-1,900).

Regional Profile

  • Regionally, job gains were led by Southern California. The Inland Empire saw the largest increase, where payrolls grew by 9,400 (0.6%) during the month. San Diego (8,600 or 0.6%), Orange County (4,300 or 0.3%), Los Angeles (MD) (2,100 or 0.0%), and Ventura (1,200 or 0.4%) also saw payrolls jump during the month. Since April 2020, the Inland Empire (140.8%) has experienced the strongest recovery in the region, followed by El Centro (115.3%), San Diego (105.1%), Orange County (100.0%), Los Angeles (MD) (94.7%), and Ventura (91.5%).
  • In the Bay Area, San Francisco (MD) experienced the largest job increase, with payrolls expanding by 6,400 (0.4%) positions in December. The East Bay (3,100 or 0.3%), San Jose (1,800 or 0.2%), Santa Rosa (800 or 0.4%), San Rafael (MD) (600 or 0.6%), Vallejo (500 or 0.4%), and Napa (400 or 0.6%) also saw payrolls expand during the month. Since April 2020, San Jose (105.3%) has experienced the strongest recovery in the region, followed by San Francisco (MD) (96.1%), the East Bay (92.6%), Santa Rosa (88.3%), Napa (79.4%), Vallejo (74.3%), and San Rafael (MD) (55.5%).
  • In the Central Valley, Sacramento experienced the largest monthly increase, as payrolls expanded by 2,800 (0.3%) positions in December. Payrolls in Fresno (1,400 or 0.4%), Visalia (500 or 0.4%), Chico (300 or 0.4%), Modesto (300 or 0.2%), Merced (200 or 0.3%), and Madera (100 or 0.2%) increased as well. Since April 2020, Stockton (147%) has experienced the strongest recovery in the region, followed by Visalia (135%), Madera (124%), Merced (122%), Sacramento (115.7%), Fresno (114.4%), Redding (113.9%), Hanford (110.3%), and Yuba (110%).
  • On California’s Central Coast, San Luis Obispo added the largest number of jobs, with payrolls increasing by 900 (0.8%) during the month. Santa Cruz (600 or 0.6%), Santa Barbara (600 or 0.3%), and Salinas (400 or 0.3%) experienced payroll declines during the month. Since April 2020, Santa Barbara (103.6%) has enjoyed the strongest recovery in the region, followed by San Luis Obispo (100%), Santa Cruz (91.6%), and Salinas (84.3%).
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Career & Workplace

California Continues Adding Jobs at a Healthy Pace But Hiring Remains Constrained by Lack of Workers

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Unemployment Rate Ticks Up, Elevated Compared To Nation

California’s labor market expanded steadily in November, with total nonfarm employment in the state growing by 26,800 positions, according to an analysis released jointly by Beacon Economics and the UCR School of Business Center for Economic Forecasting and Development. October’s gains were also revised up to 59,800 in the latest numbers, a 3,100 increase from the preliminary estimate of 56,700.

California has added jobs at a healthy pace in 2021 and 2022. As of November 2022, the state had recovered all of the jobs that were lost in March and April 2020, and there are now 60,700 more people employed in California compared to February 2020. Over this time, total nonfarm employment in the state has grown 0.3% compared to a 0.7% increase nationally. The state increased payrolls by 4.0% from November 2021 to November 2022, outpacing the 3.3% increase nationally during the same period.

California’s unemployment rate grew to 4.1% in the latest numbers, a 0.1 percentage-point increase over the previous month. While this is near historic lows, the unemployment rate remains elevated relative to the nation’s 3.7% rate. California continues to struggle with its labor supply, which fell by 21,000 in November. Since February 2020, the state’s labor force has contracted by 282,000 workers, a 1.4% decline. This lack of workers is making it difficult for some employers to hire the additional staff they typically bring on during the holiday season.

“While the state’s payrolls are now in expansion mode, many communities continue to struggle to find workers, especially in coastal areas of the state,” said Taner Osman, Research Manager at Beacon Economics and the Center for Economic Forecasting. “The lack of affordable housing along the coast is the primary constraint holding back job expansion.”

Industry Profile  

  • At the industry level, the largest job gains continue to occur in the sectors hit hardest by the pandemic. While employment in nearly half of California’s sectors now exceed their pre-pandemic peaks, employment levels in the hardest hit sectors remain below pre-pandemic levels and, as such, should continue to steadily gain jobs over the coming months.
  • Leisure and Hospitality led the gains in November, with payrolls expanding by 13,900. Leisure and Hospitality still has a long way to go to recover all of the jobs lost due to the pandemic, with payrolls still down 5.3% since February 2020.
  • Other sectors posting strong gains during the month were Health Care (10,500), Information (6,300), Professional, Scientific, and Technical Services (3,800), Education (2,900), Other Services (2,800), Government (2,200), Real Estate (2,200), Administrative Support (1,500), and Manufacturing (1,100).
  • Job losses also occurred in November with Retail Trade (-14,700) leading the declines during the month. Other sectors posting significant job losses were Transportation, Warehousing, and Utilities (-6,500) and Management (-600). With a tight labor market, Retail Trade and Transportation, Warehousing, and Utilities are finding it difficult to find the additional staff they typically hire during the holiday season.

Regional Profile

  • Regionally, job gains were led by Southern California. Los Angeles (MD) saw the largest increase, with payrolls growing by 18,000 (0.4%) during the month. San Diego (5,300 or 0.3%), Orange County (900 or 0.1%), and Ventura (200 or 0.1%) also saw their payrolls jump. Since April 2020, the Inland Empire (136.8%) has experienced the strongest recovery in Southern California, followed by El Centro (113.6%), San Diego (102.1%), Orange County (97.7%), Los Angeles (MD) (96.1%), and Ventura (90.4%).
  • In the Bay Area, San Francisco (MD) experienced the largest increase, with payrolls expanding by 3,000 (0.3%) positions in November. San Jose (2,000 or 0.2%), Santa Rosa (1,900 or 0.9%), the East Bay (1,100 or 0.1%), and Napa (500 or 0.7%) also saw payrolls expand during the month. Since April 2020, San Jose (104.7%) has experienced the strongest recovery in the Bay Area, followed by San Francisco (MD) (92.4%), the East Bay (91.6%), Santa Rosa (87%), Napa (78.3%), Vallejo (72%), and San Rafael (MD) (53.9%).
  • In the Central Valley, Sacramento experienced the largest monthly increase as payrolls expanded by 1,600 (0.2%) positions in November. Payrolls in Bakersfield (1,000 or 0.4%), Merced (800 or 1.1%), Stockton (700 or 0.3%), Chico (400 or 0.5%), Fresno (300 or 0.1%), Hanford (200 or 0.5%), Visalia (200 or 0.1%), and Redding (100 or 0.1%) increased as well. Since April 2020, Stockton (144.3%) has experienced the strongest recovery in the Central Valley, followed by Visalia (130.7%), Merced (122%), Redding (116.5%), Madera (116%), Sacramento (114.9%), Fresno (108.3%), Hanford (106.9%), and Yuba (106%).
  • On California’s Central Coast, Santa Barbara added the largest number of jobs, with payrolls increasing by 700 (0.4%) during the month. San Luis Obispo (400 or 0.3%), Salinas (300 or 0.2%), and Santa Cruz (300 or 0.3%) all saw payrolls decline during the month. Since April 2020, Santa Barbara (102.1%) has experienced the strongest recovery along the Central Coast, followed by San Luis Obispo (92.7%), Santa Cruz (88.4%), and Salinas (80.8%).
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Business

Saybridge Technologies’ Board of Directors Announces Byron J. Paul as CEO

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The SyBridge Technologies’ Board of Directors is pleased to announce that Byron J. Paul has joined SyBridge Technologies (“SyBridge” or the “Company”) as Chief Executive Officer and will also serve as a member of the Board of Directors.  Mr. Paul will build upon the Company’s strategic vision of becoming a global technological leader in value-added design and manufacturing solutions ranging from design and prototyping to production-as-a-service and aftermarket services for customers.  Mr. Paul brings extensive experience in industrial technology and a 20+ year track record of driving profitable growth in complex, global enterprises.

Mr. Paul was most recently Group President at Signode Industrial Group where he led a global portfolio of businesses focused on end-of-line packaging technologies and warehouse automation solutions.  He previously served as President of Destaco, a leading designer and manufacturer of precision engineered components for industrial automation and robotics applications. Mr. Paul has also held senior leadership roles at John Crane, a leader in rotating equipment solutions, and at the Boston Consulting Group.  Mr. Paul holds an MBA from the Kellogg School of Management at Northwestern University and a Master of Public Administration from Harvard University’s Kennedy School of Government. He also attended the University of Western Australia where he earned a Bachelor of Commerce with first class honors in accounting and finance.

Mr. Paul stated, “I am thrilled to be joining a world-class team at SyBridge Technologies. They have done an outstanding job expanding SyBridge Technologies’ global reach, growing from three sites in 2019 to 16 locations today. I look forward to partnering with the Board and Crestview Partners as we embark on the next phase of growth to build an unrivaled leader in digital manufacturing.”

Jason Luo, Chairman of SyBridge Technologies and Crestview Operating Executive noted, “Byron is a committed leader with a proven track record of successfully growing businesses and we are excited to partner with him as we plan to execute on the Company’s next chapter of growth.”

Mr. Paul succeeds Tony Nardone who has departed the company to pursue other interests. “We appreciate the many contributions Tony has made to SyBridge and wish him well in his future endeavors,” said Mr. Luo.

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