June 19, 2017 Comments Off on Jobless Rate Continues to Drop Views: 404 California News, Inland Empire

Jobless Rate Continues to Drop

The Inland Empire jobs picture continued to improve, a positive trend set against an otherwise downbeat state report. The jobless rate dropped to 4.5% in May from 4.7% in April, according to the state’s Employment Development Department.

That number is roughly half of what it was just a few years ago. Sill economists at Beacon Economics and the UC Riverside School of Business Center for Economic Forecasting and Development say California’s job growth continued to slow, in part due to 23,000 people leaving the labor force. Employers are finding it increasingly difficult to hire qualified people, and rising housing costs are a big challenge for lower and middle-income households.

The construction sector added roughly 3,500 jobs, and continues to led employment gains for the year with 16,500 new jobs. The education and health services sector reported the biggest decline of roughly 1,700 jobs.

Read more at Riverside Press-Enterprise

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