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Inland Empire's Prosperity: Job Growth, Health Care, Manufacturing, Construction, and Office Space

Explore the economic growth and job opportunities in the Inland Empire region of California, including the impact of petroleum prices, wage and salary employment, health care jobs, warehousing, manufacturing, construction, and the office space market.

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Inland Empire's Prosperity: Job Growth, Health Care, Manufacturing, Construction, and Office Space

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  1. Inland Empire Prosperity . . . John Husing, Ph.D. Economics & Politics, Inc. Chief Economist, IEEP

  2. After Losing 8.71 Million Jobs …U.S. Jobs Long Slow Growth - Not Over-Heating

  3. Petroleum Prices Helps Families In Modest Income Areas

  4. Value of the Dollar:Helps Imports & Hurts Exports 100.0 23.6%

  5. Consumer Confidence, 2009-2015 Needed To Help Homes Sales

  6. Interest Rates Remain BenignEncourages Home Sales

  7. California Wage & Salary Employment: A Record Level

  8. California Job Gains/Losses Up +875,333 82.4% Up 2008-2010 -1,062,758 2011-2015 +1,938,092 Recovery Great Recession

  9. Very Rapid Job Growth: 3 Straight Years! 2011-2016p Gained Back 250,502 vs. 142,933 Lost 107,576More Jobs Will Have Been Created!

  10. Inland Empire Growth was the 2nd LargestAbsolute Job Gain in California in 2014!

  11. IE Unemployment Rate: Closing In on the National Level

  12. The Issue: Poverty

  13. Gold Mine Theory Secondary Tier Primary Tier

  14. Educational Challenge For Adults & Their Children Time To Stop Talking & Do Something About This!

  15. Health Care

  16. Health Care Jobs: Continuous Growth 2011-2015 12% of Job Growth Median Pay $54,261

  17. Inland Empire Underserved by Health Care Workers 27.7% More People Per Health Care Worker in 2014 36.5% More People Per Health Care Worker in 2010

  18. Sophisticated Warehousing Operations

  19. Port Container VolumesStrong Even With January Labor Slowdown

  20. Fulfillment Warehousing

  21. E-Commerce Growth RatesYear Over Year by Quarter

  22. Net Industrial Space Absorption 19.6 million

  23. Industrial Vacancy Rate 3.6%

  24. Logistics Incredibly Important To Inland Empire’s Economic Health 2011-2015 Mary 23% of New Jobs Remember: Every Gold Mine Job Also Funds Another Secondary Tier Job Median Pay $45,677

  25. PM 2.5: Diesel Pollution -95.6%

  26. Manufacturing: Should Be A Major Growth Source

  27. California Manufacturing Job GrowthJust 4.0% of U.S. Growth

  28. CA Is Not Loved By Executives & Entrepreneurs

  29. Inland Empire Manufacturing Jobs 2011-2015 4% of Job Growth Median Pay $49,567

  30. Construction: Finally Coming Back

  31. Notices of Default At Low Levels (873 in August 2015) Negative Equity Has Dropped 4th Qtr 2009 - 2nd Qtr 2015 54.9% to 12.3%

  32. Home Price Trends -26.9% 83.5%

  33. Long Term Competitive Price Advantage Still Exists

  34. Affordability to Median Income Household2nd Quarter 2015 I. Empire: 46%-54% LA: 30%-70% SD: 25%-75% Orange: 20%-80%

  35. Home Sales Volume Finally Some Upward Motion

  36. The Future: Survey of 1,600 MillennialsLong Term Goals • 66% want to live in the suburbs • 24% want to live in rural areas • 10% want to live in a city center • Want to live in more space than they have now • 81% want three or more bedrooms in their home

  37. Construction Jobs: Finally Growing 2011-2015 11% of Job Growth Median Pay $51,051

  38. Higher End Homes Draw Well Educated Workers UPLAND $484,409 $463,034 Claremont Loma Linda $590,000 $360,087 $351,504 $417,443 $585,199 EASTVALE $468,269 $440,000 CORONA $436,898 TEMECULA $358,516 $399,676

  39. Migration of Educated Workers

  40. Migration of AA or Higher

  41. Diversity Challenge

  42. Professionals, Mgmt., Utilities, Information, Mining Slowly Coming Back 2011-2015 4.1% of Growth Median Pay $65,453

  43. Office Space Net Absorption 492,858

  44. Office Vacancy Rate 15.0%

  45. Gold Mine Theory Secondary Tier Primary Tier

  46. Low Paying Job GrowthRetail, Consumer & Bus. Services, Hotel, Eat & DrinkAmusement, Agriculture, Employment Agency 2011-2015 45% of Job Growth Median Pay $28,927

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