Inland Empire unemployment falls to 3.7%, lowest on record: 12 trends to watch

Inland Empire unemployment falls to 3.7%, lowest on record: 12 trends to watch

Bosses in Riverside and San Bernardino counties added 49,000 jobs in the 12 months ended in April as the Inland Empire unemployment rate his its lowest level on record.


Here are 12 trends you need to know from the state Employment Development’s monthly jobs report for Inland Empire …


1. Total jobs: 1.49 million were employed in April vs. 1.44 million in March and an average of 1.36 million the last five years. Employers in Riverside and San Bernardino counties added 1,500 workers vs. the previous month.


2. Job growth: Up 3.4 percent in last year vs. 3.1 percent growth in the previous 12 months; and 3.95 percent annually in the last five years.


3. Unemployment rate: 3.7 percent in April vs. 4.1 percent in March and 4.9 percent a year earlier. Joblessness has averaged 6.72 percent last five years. Inland Empire unemployment has never been lower, according to the current state database that tracks employment trends back to 1990.


4. Number of jobless: 75,400 last month vs. 98,000 a year ago and an average of 131,195 the last five years.


5. Elsewhere: 3.8 percent comparable unemployment rate for California and 3.7 percent nationwide.


April trends in key employment sectors in Riverside and San Bernardino counties employment sectors …


6. Private-industry: 1,230,200 jobs last month, up 3.51 percent in last year vs. up 3.18 percent in previous 12 months; and 4.29 percent five-year average growth.


7. Government: 258,400 jobs last month, up 2.91 percent in last year vs. up 2.70 percent in previous 12 months; and 2.43 percent five-year growth.


8. Goods-making: 200,400 jobs last month, up 2.82 percent in last year vs. up 2.31 percent in previous 12 months; and 5.17 percent five-year growth.


9. Service industries: 1,288,200 jobs last month, up 3.49 percent in last year vs. up 3.22 percent in previous 12 months; and 3.77 percent five-year growth.


10. Note: Why is rush-hour traffic so bad? There were 454,500 fewer people working at jobs in Riverside and San Bernardino counties in April than there were Inland Empire residents employed. Those workers must go somewhere else to work! (Slightly good news: This gap averaged 471,093 in the last five years.)


Combined April trends in Los Angeles, Orange, Riverside and San Bernardino counties …


11. Total jobs: 7.61 million, up 143,100 in a year. That’s 1.92 percent one-year growth vs. 2.3 percent average growth last five years.


12. 4-county unemployment rate: 3.7 percent vs. 3.9 percent the previous month and 4.3 percent a year earlier. Regionally, 323,700 were jobless last month vs. an average 532,247 during the last five years.


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