Unemployment Rates Continue to Improve in San Bernardino County
Data released from the State of California Employment Development Department shows that unemployment rates continue to decrease in San Bernardino County. The report largely focuses on the Riverside-San Bernardino-Ontario Metropolitan Statistical Area and aims to demonstrate which industries have the most potential for economic growth in the region. According to the report, the employment situation in San Bernardino and Riverside Counties is improving. The past year has seen a decrease in unemployment rates from 8.2% to 6.5%. Additionally, nonfarm industries in the area have added up to 47,300 jobs since June 2014.Read the press release from the Employment Development Department of the State of California for more details here.Adhering to an overall trend of job growth in the region, the industry sectors that gained the most jobs in the past year included trade, transportation, and utilities, and professional and business services. The success of both these industry sectors could be partially attributed to the concentration of business headquarters in Ontario. Businesses such as Maglite, Phoenix Motorcars, and Sheikh Shoes are all currently headquartered in Ontario, and QVC’s recent decision to build its West Coast Distribution Center in the city paves the way for future economic growth. Another telling example of the Riverside-San Bernardino-Ontario region’s economic development is the positive performance of the construction industry. Between June 2014 and June 2015, up to 5,900 jobs have been added to the construction sector, approximately an 8% increase in this industry alone. As more businesses seek a lucrative area in which to develop, construction work is in high demand.Following the release of the Employment Development Department’s Employment Report, it is evident that economic development is thriving in San Bernardino and Riverside Counties. Unemployment continues to steadily decrease in both regions, dropping 4% since July 2013. The wealth of opportunities to develop in the area continue to attract new businesses, and steady economic growth supports preexisting businesses in both counties. In addition, job growth in integral industries such as transportation, business and professional services, construction, educational and health services, and government is an influential factor in the economic development of the Riverside-San Bernardino-Ontario Metropolitan Area, ultimately helping to improve the quality of life in this region. Read more information on this subject:Unemployment Statistics Unemployment Statistics by CityUnemployment Statistics by IndustryArticle written by Olivia Egger.