Inland Southern California’s Unemployment Rate Continues Downward Trend

Data released by UCR’s Center for Economic Forecasting and Development highlights latest job numbers and annual benchmark revision  

By Sarah Nightingale on March 4, 2016

RIVERSIDE, Calif. (www.ucr.edu) — The unemployment rate in Inland Southern California declined to 5.8% in the most recent numbers and by 1.5 percentage points over the past year, according to data released today by the California Employment Development Department.

The EDD also released their annual benchmark revision of all the state’s employment numbers from 2000 to 2015. The benchmark revision shows that total payroll job estimates in Inland Southern California were 21,800 positions higher than previous estimates, while year-over-year growth remained the same at 3.6%.

The numbers are reviewed in a monthly report compiled and seasonally adjusted* by the University of California, Riverside’s School of Business Administration Center for Economic Forecasting and Development.

The benchmark revision shows that some Inland Southern California industry sectors grew more than previously estimated (the Transportation and Warehouse sector increased from 3.2% to 11.5%) while some declined (Administrative Support sector decreased from 5.5% to -7.6%).

Non-farm payrolls in Inland Southern California dipped to 1,371,400 in January, a 1,500 decline from December. However, this one-month decline should not raise any alarm bells due to the strong seasonal drop off that typically occurs from December to January.

Christopher Thornberg, director of the Center for Economic Forecasting and Development, is available for media interviews.

* Each month, the California Employment Development Department releases its latest estimates of job counts. The Center for Economic Forecasting and Development will provide seasonally adjusted estimates of employment along with additional analysis of the most recent employment trends occurring throughout Inland Southern California.

Archived under: Business, Center for Economic Forecasting and Development, Christopher Thornberg, employment, inland empire, inland southern california, press release, regional economy, School of Business, unemployment

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