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Published byHugh Stewart Modified over 9 years ago
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John Husing, Ph.D. Economics & Politics, Inc. Chief Economist, IEEP Inland Empire Prosperity...
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After Losing 8.71 Million Jobs … U.S. Jobs Long Slow Growth - Not Over-Heating
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Petroleum Prices Helps Families In Modest Income Areas
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Value of the Dollar: Helps Imports & Hurts Exports 23.6% 100.0
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Consumer Confidence, 2009-2015 Needed To Help Homes Sales
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Interest Rates Remain Benign Encourages Home Sales
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California Wage & Salary Employment: A Record Level
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California Job Gains/Losses 2008-2010 -1,062,758 Great Recession 2011-2015 +1,938,092 Up +875,333 82.4% Up Recovery
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Very Rapid Job Growth: 3 Straight Years! 2011-2016p Gained Back 250,502 vs. 142,933 Lost 107,576 More Jobs Will Have Been Created!
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Inland Empire Growth was the 2 nd Largest Absolute Job Gain in California in 2014!
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IE Unemployment Rate: Closing In on the National Level
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The Issue: Poverty
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Gold Mine Theory Primary Tier Secondary Tier
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Educational Challenge For Adults & Their Children Time To Stop Talking & Do Something About This!
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Health Care
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Health Care Jobs: Continuous Growth 2011-2015 12% of Job Growth Median Pay $54,261
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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
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Sophisticated Warehousing Operations
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Port Container Volumes Strong Even With January Labor Slowdown
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Fulfillment Warehousing
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E-Commerce Growth Rates Year Over Year by Quarter
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Net Industrial Space Absorption 19.6 million
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Industrial Vacancy Rate 3.6%
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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
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PM 2.5: Diesel Pollution -95.6%
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Manufacturing: Should Be A Major Growth Source
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California Manufacturing Job Growth Just 4.0% of U.S. Growth
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CA Is Not Loved By Executives & Entrepreneurs
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Inland Empire Manufacturing Jobs 2011-2015 4% of Job Growth Median Pay $49,567
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Construction: Finally Coming Back
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Notices of Default At Low Levels (873 in August 2015) Negative Equity Has Dropped 4 th Qtr 2009 - 2nd Qtr 2015 54.9% to 12.3%
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Home Price Trends 83.5% -26.9%
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Long Term Competitive Price Advantage Still Exists
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Affordability to Median Income Household 2 nd Quarter 2015 I. Empire: 46%-54% LA: 30%-70% Orange: 20%-80% SD: 25%-75%
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Home Sales Volume Finally Some Upward Motion
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The Future: Survey of 1,600 Millennials Long 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
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Construction Jobs: Finally Growing Median Pay $51,051 2011-2015 11% of Job Growth
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Higher End Homes Draw Well Educated Workers $585,199 $417,443 $484,409 UPLAND EASTVALE $468,269 $463,034 $440,000 CORONA $436,898 TEMECULA $358,516$399,676 $590,000 Claremont $360,087$351,504 Loma Linda
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Migration of Educated Workers
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Migration of AA or Higher
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Diversity Challenge
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Professionals, Mgmt., Utilities, Information, Mining Slowly Coming Back Median Pay $65,453 2011-2015 4.1% of Growth
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Office Space Net Absorption 492,858
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Office Vacancy Rate 15.0%
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Gold Mine Theory Primary Tier Secondary Tier
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Low Paying Job Growth Retail, Consumer & Bus. Services, Hotel, Eat & Drink Amusement, Agriculture, Employment Agency 2011-2015 45% of Job Growth Median Pay $28,927
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Federal, State, Local Government Median Pay $57,984 2011-2015 -5% of Job Growth
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Job Quality Mgmt & Professions California: 14.4% Inland Empire: 5.1%
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www.johnhusing.com
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