THE IE LABOR MARKET PULSE
Monthly Analysis and Insights on the Latest Riverside and San Bernardino Jobs Data
October 2024
INLAND EMPIRE UNEMPLOYMENT RATE FLAT AT 5.5%; HOLIDAY HIRING RAMPING UP
September’s seasonally adjusted unemployment rate was 5.5%, holding steady from August and ending four consecutive months of increases. California’s unemployment rate was also flat at 5.3%.
The region added 9,600 jobs month over month, led by local government (+8,600 jobs) as school staff headed back to campus. Transportation and warehousing (+2700 jobs) and retail (+900 jobs) also added jobs. The largest job losses were in Construction (-2,200 jobs) and leisure and hospitality (-1,500 jobs).
SIGNS HOLIDAY HIRING IS RAMPING UP
Today’s reading suggests the Inland Empire is gearing up for a strong holiday shopping season. Employment in general merchandising retailers totaled 40,800 in September, up 800 jobs from last month and 4.3% more jobs than the same time last year. Inland Empire employers are stepping up job posting activity as well, a leading indicator for future hiring. There were 3,189 unique job postings on public job boards from Inland Empire retailers in September, up 10% from August. Top employers posting include Target, Walmart, Ross, Macy’s, Burlington, Ulta Beauty, and Petco. Employers are actively looking for full-time and seasonal retail associates, cashiers, and supervision and store management roles. Analysis of last month’s job posting data suggests most retail employers are looking for people with good customer service, sales, communication, and retail operations skills (e.g., merchandising, using a cash register).
National data released Wednesday by the US Department of Commerce showed retail sales increased 0.4% across the US, above expectations with strong readings across a broad range of consumer goods.
This data provides reasons to be optimistic the Inland Empire will have a strong holiday shopping season. For those looking to get into the job market, a seasonal holiday job can be a good entry point. The hiring process is often fast and there can be opportunities to learn important skills on the job like customer service, sales, and communication that employers look for across industries in the Inland Empire.
SANTA, SHOPPING, SMALL BUSINESSES, AND ECONOMIC GROWTH
While the big retailers are posting the most jobs, when locally owned retailers cash in during the holiday season, the Inland Empire wins. Studies show local businesses keep more money within the community, with approximately $68 of every $100 spent remaining local, compared to just $43 at national chains. The Shop Riverside initiative is one example of government working with local businesses to keep more retail money and the jobs it supports in the Inland Empire.
Shopping locally during the holiday season is vital for supporting the economic health of the Chino Valley and the Inland Empire. These businesses enrich community connections by participating in local initiatives and supporting charitable causes. By choosing to shop locally, consumers can enhance the community’s character, foster economic growth, and help create a resilient local economy.
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