Archive for the ‘ Economy ’ Category

The Sun: How the former Rialto Airport will be developed

Rialto-Seal

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 02/07/16 – 4:20 PM PST |

RIALTO >> One of the larger redevelopment projects in the Inland Empire is currently taking shape in and around the former Rialto Airport, with developers in discussions with potential tenants and city officials eager to usher in new housing, job and revenue opportunities.

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Bloomberg Business: Payrolls in U.S. Climb as Jobless Rate Declines, Wages Rise

Bloomberg Business

Victoria Stilwell
February 5, 2016 — 5:30 AM PST
Updated on February 5, 2016 — 7:16 AM PST

Job growth settled into a more sustainable pace in January and the unemployment rate dropped to an almost eight-year low of 4.9 percent, signs of a resilient labor market that’s causing wage growth to stir.

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MarketWatch: U.S. GDP fizzles in the fourth quarter

Economy

By Jeffry Bartash, Reporter
Published: Jan 29, 2016 – 1:30 p.m. ET

  • Growth tapers off as consumers, businesses cut back
  • Exports were a drag on growth throughout 2015.

WASHINGTON (MarketWatch) — The economy bogged down at the end of 2015, raising questions about whether U.S. growth is losing momentum.

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The Sacramento Business Journal: S&P says California economy might have peaked

Standard & Poor's

Allen Young, Staff Writer
Sacramento Business Journal
Jan 25, 2016 – 2:27pm PST

Standard & Poor’s, one of the nation’s top three credit ratings services, has forecast another year of economic growth for the California economy. But in a report released Monday, the agency also warned that the growth may soon end.

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The Press-Enterprise: ECONOMY: Inland jobless rate dips below 6 percent

Inland Empire

In December, unemployment in Inland Southern California dropped below 6 percent for the first time since the recession, according to figures released by the state.

Published: Jan. 22, 2016 – 3:58 p.m.

For the first time since the recession, the Inland unemployment rate dropped below the 6 percent figure, hitting 5.9 percent for December in the Riverside-San Bernardino-Ontario area.

To read Staff Report in The Press-Enterprise, click here.

Dan Walters

By Dan Walters
dwalters@sacbee.com
January 23, 2016 – 9:55 AM

  • California ended 2015 with employment gain
  • Yet recovery from recession has been uneven
  • High-skill and low-skill jobs grow, middling jobs stagnant

Gov. Jerry Brown delivered a mixed economic message to the Legislature last week – hailing California’s strong recovery from the Great Recession but warning it could quickly turn sour.

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Jobs

Chris Kirkham
January 22, 2016

California employers added 60,400 jobs in December, according to state data, one of the largest single-month gains in the last three years.

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InlandPolitics: California Driver’s continue to get hosed at the gas pump

Gas Prices

Monday, January 18, 2016 – 11:30 a.m.
Last Modified: Monday, January 18, 2016 – 05:00 p.m.

As crude oil prices hit multi-year lows, California continues to get hosed by gasoline refiners.

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The Sacramento Bee: Dan Walters: State’s big housing dilemma

Dan Walters

By Dan Walters
dwalters@sacbee.com
January 16, 2016 9:54 AM

  • California falls short in meeting housing demand
  • Shortage pushes costs, especially rents, sky-high
  • Politicians talk about it, but do little

It’s time once again for some fun with numbers, in this case the data on California’s serious – and worsening – housing crisis.

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March ARB

Rose Institute study puts area base’s annual economic value at $579 million

Published: Jan. 14, 2016 – Updated: 8:11 p.m.

March Air Reserve Base near Riverside gives the Inland area an economic boost worth $579 million a year, an analysis has found.

To read Staff Report in The Press-Enterprise, click here.

The San Francisco Chronicle: Rams, not Raiders, approved for move to Los Angeles

Rams

By Aaron Wilson and Rachel Swan
January 12, 2016
Updated: January 13, 2016 – 7:22am

HOUSTON — Oakland, the city with no stadium plans and a halfhearted effort to hang on to the Raiders, gets to keep the team anyway — for now.

Read the rest of this entry »

Roger Goodell

NFL Commissioner Roger Goodell, addressing the media on Dec. 2, has cleared the way for a vote on possible relocation to Los Angeles. (Brandon Wade / Associated Press)

Sam Farmer and Nathan Fenno
December 9, 2015

The current stadiums in Oakland, St. Louis and San Diego are “unsatisfactory and inadequate,” and the proposed solutions are not viable to keep the Raiders, Rams and Chargers in their home markets, NFL Commissioner Roger Goodell said in a report distributed Saturday to all 32 teams.

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Bloomberg: Payrolls Surge, U.S. Jobless Rate at 5% as Workforce Grows

Bloomberg Business

Sho Chandra
Updated on January 8, 2016 — 7:09 AM PST
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  • U.S. Employers Add 292,000 Jobs in December

America’s labor-market juggernaut continued to roll unabated at the end of 2015.

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The Sacramento Bee: California exports plunge nearly 14 percent in November from 2014

down-arrow

Business & Real Estate
By Mark Glover
mglover@sacbee.com
January 6, 2016 12:07 PM

  • $12.86 billion in shipments is the lowest in six years
  • Analysts cite slowing economies among key trade partners
  • Year-to-date totals lag record 2014 by 4.3 percent

Sacramento —

Wavering economies among key California trading partners in the last half of 2015 landed with a thud in the Golden State in November.

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The Press-Enterprise: ECONOMY: Inland index shows marked decline

csusb_logo_new

The Purchasing Managers Index from Cal State San Bernardino scored at 42.1, down from 52.3 in November

Published: Jan. 5, 2016 – Updated: 2:40 p.m.

Weakness in new orders and production helped pull the area purchasing managers index for December to a six-year low, sparking concerns about a potential economic contraction.

To read the Staff Report in The Press-Enterprise, click here.

Daily Bulletin: Passenger, cargo volume up at Ontario airport

Up Arrow

Passenger traffic is up 4 percent and cargo is up 13 percent at L.A./Ontario International Airport from November 2014 to November 2015.

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 12/29/15, 6:51 PM PST |

ONTARIO >> As they prepare to hand off control of L.A./Ontario International Airport, officials from Los Angeles World Airports are reporting a 4 percent passenger increase and a 13 percent increase in cargo at the Inland Empire travel hub for November this year over the same time last year.

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Reuters: U.S. holiday retail sales grow a ‘solid’ 7.9 percent: MasterCard

Reuters
Monday, December 28, 2015

(Reuters) – Strong online sales and demand for furniture and women’s apparel helped U.S. retail sales grow by a “solid” 7.9 percent this holiday season, according to MasterCard Advisors SpendingPulse.

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Gas Prices

Monday, December 28, 2015 – 09:45 a.m.

Every knew they wouldn’t let it go on for too long.

“They” being oil companies. “It” being low gasoline prices.

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The Sun: Inland Empire economy sees growth and expansion in 2015

Amazon

Workers work the assembly line at the new Amazon distribution center in San Bernardino. A fourth Amazon warehouse opened this year in the Inland Empire. (Staff File Photo)

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 12/24/15 – 5:23 PM PST |

Positive employment growth, the expansion of the logistics industry in the Inland Empire and local control of Ontario Airport were key highlights for the regional economy in 2015, experts say.

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The Sacramento Bee: Dan Walters: Neighbors perhaps, friends no

Dan Walters

By Dan Walters
dwalters@sacbee.com
December 22, 2015 4:41 PM

  • California, 3 neighboring states much different
  • We get along with Oregon, not Arizona and Nevada
  • Relations with Nevada are particularly frosty

There’s always been an incongruity about California’s having three disparate states on its borders.

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Jobs

Chris Kirkham
December 18, 2015

California employers added just 5,500 jobs in November, according to federal data — a significant slowdown from more robust monthly gains earlier in the year.

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Help Wanted

In this Oct. 1, 2015 photo, a shopper walks past a store with a “Help Wanted” sign in the window, in New York. (AP Photo/Mark Lennihan)

By Kevin Smith, San Gabriel Valley Tribune
Posted: 12/18/15 – 10:13 AM PST |

Los Angeles County and the Inland Empire both posted healthy job gains in November but California’s net gain amounted to just 5,500 jobs, the smallest monthly increase in more than three years.

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The Sacramento Bee: Dan Walters: Los Angeles could be Olympic winner and loser

Dan Walters

By Dan Walters
dwalters@sacbee.com
December 13, 2015

  • City’s bid for 2024 games advances
  • Boosters say it could be profitable on $4.5 billion budget
  • But city would have to cover any losses

Los Angeles moved closer last week to becoming the venue for the 2024 Summer Olympics when voters in Hamburg canceled its bid.

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The Sacramento Bee: Californians have high poverty, high incomes

Farm Workers

Farm workers pull weeds in a Kings County field in 2014. The agricultural county has California’s highest poverty rate, according to a new Census Bureau study. (Matt Black/NYT)

Capitol Alert
By Dan Walters
dwalters@sacbee.com
December 9, 2015

  • California has 15th highest state poverty rate in nation
  • Official poverty measure disregards living costs
  • State has highest poverty level by alternate method

Californians have both above-average poverty levels and above-average median family incomes, according to a new Census Bureau report.

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The Sacramento Bee: Dan Walters: State has pension dilemma

Dan Walters

By Dan Walters
walters@sacbee.com
December 5, 2015

  • Most California workers lack retirement plan
  • New state programs will try to close the gap
  • Secure Choice faces many hurdles

California has long prided itself on having an upwardly mobile, egalitarian gestalt, so there’s much irony in its evolution into a two-tiered society.

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Los Angeles Times: Yellen signals rate hike is coming later this month

interest_rates

Don Lee
December 2, 2015

Federal Reserve Chairwoman Janet L. Yellen, saying the U.S. economy has come a long way since the Great Recession, gave clear signals Wednesday that the central bank was likely to raise interest rates this month.

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Healthcare

U.S. health spending grew 5.3% last year, fueled by prescription drug costs and an expansion of insurance coverage, federal officials said Wednesday. (Fotolia / TNS)

Chad Terhune
December 2, 2015

U.S. healthcare spending grew 5.3% last year to $3 trillion, another sign that a historic slowdown in medical inflation may be ending, a new federal report shows.

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The Press-Enterprise: ONTARIO AIRPORT: Passenger traffic increases in October

Ontario International Airport

The number of flights increases; also, cargo tonnage is up at the Inland airport

Published: Dec. 1, 2015 – Updated: 4:59 p.m.

Both domestic and international passenger traffic at Ontario International Airport increased in October, up more than 5.6 percent. There were 380,584 passengers in October, compared with 360,256 for the same month one year ago.

To read article by Richard K. De Atley in The Press-Enterprise, click here.

California State University - San Bernardino

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 12/01/15 – 5:52 PM PST |

Manufacturing in the Inland Empire may be back in growth mode as manufacturers responded positively to questions about the state of their businesses, according to the latest report from the Institute of Applied Research at Cal State San Bernardino.

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The Sun: Amazon opens 6th California fulfillment center in Rialto

Amazon

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 11/24/15 – 4:51 PM PST |

RIALTO >> Online retail giant Amazon quietly began warehousing operations out of its sixth California-based e-commerce fulfillment center in Rialto earlier this month.

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Pay Raise

Abby Sewell
November 20, 2015

Workers represented by Los Angeles County’s largest employee union voted to approve a tentative agreement with county management that would give them a 10% raise over three years.

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unemployment down

Chris Kirkham
November 20, 2015

California employers added 41,200 net jobs in October, a significant increase from more sluggish growth reported a month earlier, according to data released Friday.

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Los Angeles Times: Here’s where we stand on the NFL returning to Los Angeles

NFL

Los Angeles has had several sites proposed for an NFL stadium over the years, yet the nation’s second-largest city is still without a team.

Sam Farmer
November 19, 2015

The clock is winding down on the likelihood of the NFL’s return to Los Angeles by the 2016 season, and the situation is as murky as ever.

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The Sacramento Bee: Analyst predicts strong economy, more California budget surpluses

LAO

Capitol Alert
By Jim Miller
jmiller@sacbee.com
November 18, 2015

  • Legislature’s fiscal analyst assumes continuing economic growth
  • Projected revenue through June 2016 about $3.5 billion more than budget projection
  • Gov. Jerry Brown will present proposed 2016-17 spending plan in January

California’s economic engine will continue to hum in the coming years, allowing the state to ring up a series of multibillion-dollar budget surpluses and build rainy-day reserves, the Legislature’s nonpartisan fiscal analyst projected Wednesday.

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federal reserve

Jim Puzzanghera
November 18, 2015

Most Federal Reserve policymakers believe next month could be the right time to nudge up a key interest rate for the first time in nearly a decade, according to minutes of their last meeting.

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The Sacramento Bee: Dan Walters: Is California’s economy booming? Not really

Dan Walters

By Dan Walters
dwalters@sacbee.com
November 17, 2015

  • De León, Brown tout carbon reduction as economic benefit
  • However, the connection is tenuous
  • The state’s economy remains relatively lethargic

Kevin de León, the state Senate’s president pro tem, has been making his way slowly to a global conference on climate change in Paris next month.

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Los Angeles Times: Strong jobs data set stage for rate hike

Jobs

Employers across a broad spectrum of industries added a net 271,000 new jobs in October.

Don Lee
November 6, 2015

Hiring and wages surged last month as the unemployment rate dropped to 5%, a symbolic threshold with potential significance both for the economy and the 2016 election.

Read the rest of this entry »

Keystone Pipeline Oklahoma

The Obama administration will deny the federal permit for the controversial Keystone XL pipeline, officials say.

Christi Parsons and Paul Richter
November 6, 2015

President Obama announced Friday that he was rejecting the controversial Keystone XL oil pipeline project because it wouldn’t serve U.S. interests, dismissing its potential economic benefits as insignificant over time as he sought to close a long-running chapter in the political fight over global warming.

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Los Angeles Times: Fight over Pacific trade agreement begins

TPP

Don Lee
November 5, 2015

The long-anticipated release Thursday of the sweeping Pacific Rim trade agreement text set off an intense public battle over its pros and cons that probably will rage until Congress issues its own verdict next year.

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The Press-Enterprise: ECONOMY: Inland manufacturing growth grinds to a halt

California State University - San Bernardino

Purchasing Managers Index for Inland Southern California registers 45.9 in October, setting a three-month trend of no growth in factory output and manufacturing.

Published: Nov. 2, 2015
Updated: Nov. 3, 2015 – 8:58 a.m.

The manufacturing sector in Inland Southern California is no longer growing, according to a new report by Cal State San Bernardino University’s Institute of Applied Research.

To read article by Debra Gruzecki in The Press-Enterprise, click here.

Fresh & Easy

Customers are seen here shopping at a Fresh & Easy on Bonita Avenue in San Dimas earlier this month. (Photo by James Carbone)

By Kevin Smith, San Gabriel Valley Tribune
Posted: 11/01/15 – 3:46 PM PST |

Haggen and Fresh & Easy’s pullout of Southern California’s grocery industry doesn’t exactly bode well for the soon-to-arrive new kids on the block.

But they’re coming — and they’re bringing lots of jobs with them.

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The Press-Enterprise: UC RIVERSIDE: There’s no drought, expert says

Christopher Thornberg

Without significant economic consequences, it’s just a water shortage, expert tells business leaders.

Published: Oct. 30, 2015 – Updated: 4:31 p.m.

UC Riverside economist Christopher Thornberg told hundreds of business leaders at a recent economic forecast that there is no drought.

To read article by Janet Zimmerman in The Press-Enterprise, click here.

Reuters: Inventories hurt U.S. third-quarter GDP, domestic demand strong

GDP

Reuters
By Lucia Mutikani | Reuters
October 29, 2015

WASHINGTON (Reuters) – U.S. economic growth braked sharply in the third quarter as businesses cut back on restocking warehouses to work off an inventory glut, but solid domestic demand could encourage the Federal Reserve to raise interest rates in December.

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B-2 Stealth Bomber

A B-2 Spirit Stealth bomber taxis to the runway at the Northrop Grumman Corp. facility in Palmdale in 2014. Northrop will build 80 to 100 new strategic bombers over the next decade. (Al Seib / Los Angeles Times)

Melody Petersen and W.J. Hennigan
October 27, 2015

Aerospace giant Northrop Grumman Corp. won an intense four-year competition Tuesday to build the nation’s new fleet of stealth bombers, a project likely to create thousands of jobs in Southern California.

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Lou Desmond

Monday, October 26, 2015 – 05:00 p.m.

The Lou Desmond and Company Show is broadcasting from the Toyota of San Bernardino Recording Studios!

Estimable Economist Jay Prag joins Lou today on the show. They discuss local members of congress and their ideas for the economy. Rep. Mark Takano says that it’s not moral for anyone who works to live in poverty. Then, Rep. Pete Aguilar has ideas for businesses. But will they work?

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Capitol Public Radio: California Jobs Report Far Worse Than It Looks

Capitol Public Radio

Ben Adler
Friday, October 16, 2015 | Sacramento, CA

Don’t be fooled by the new California jobs report out Friday that shows statewide unemployment falling below six percent for the first time in nearly a decade. The state added almost no jobs last month – and 125,000 people stopped looking for work.

Read the rest of this entry »

Lou Desmond

Monday, October 12, 2015 – 05:00 p.m.

The Lou Desmond and Company Show is broadcasting from the Toyota of San Bernardino Recording Studios!

On the show today Lou is joined by Estimable Economist Jay Prag. They discuss a number of economic issues. First, is the city of San Bernardino really bankrupt? Sure it has no money, but think of the culture and the art!

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AP: Lower gas prices means no Social Security increase next year

Social Security Card

By Stephen Ohlemacher
Oct 11, 8:15 AM (ET)

WASHINGTON (AP) — For just the third time in 40 years, millions of Social Security recipients, disabled veterans and federal retirees can expect no increase in benefits next year, unwelcome news for more than one-fifth of the nation’s population.

They can blame low gas prices.

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Lou Desmond

Monday, October 5, 2015 – 05:00 p.m.

The Lou Desmond and Company Show is broadcasting from the Toyota of San Bernardino Recording Studios!

Read the rest of this entry »

Forbes: Did The Weak September Jobs Report Derail A 2015 Rate Hike?

Bob McTeer

Bob McTeer, Former Dallas Fed President and Contributor
October 3, 2015 – 10:37 AM

[Opinions expressed by Forbes Contributors are their own.]

Probably. It wasn’t just the weaker-than-expected gain of 142,000 payroll jobs in September that disappointed, but also the downward revisions for August from 173,000 to 136,000 and for July from 245,000 to 223,000. These revisions dropped the average payroll gains for the 3 months of the third quarter to 167,000, which is lower than the earlier months of 2015 and much lower than the 2014 average of 260,000. The employment data seem to confirm expectations of a weak third quarter GDP growth following a pretty decent rebound in the second quarter.

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The Sun: Inland Empire economy, population growing, according to conference experts

Inland Empire

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/01/15 – 6:29 PM PDT |

RIVERSIDE >> Things are looking up for the regional, state and national economy, according to experts at the sixth annual Inland Southern California Economic Forecast Conference, held Thursday at the Riverside Convention Center.

Read the rest of this entry »

California State University - San Bernardino

The drop is seasonal and ‘sky is not falling,’ analysts at Cal State San Bernardino say.

Published: Oct. 1, 2015 – Updated: 5:22 p.m.

The Inland purchasing manager index, a measure of the local economy based on manufacturing data, fell 2.5 points in September to 44.1, the second month in a row that the indicator has fallen.

To read article by Richard K. Atley in The Press-Enterprise, click here.

Ontario International Airport

Published: Sept. 30, 2015 – Updated: 10:36 p.m.

  • But domestic passengers drop for third month in a row.

Passenger traffic at Ontario International Airport rose 2.26 percent in August over the previous year, driven by flights to Mexico that weren’t being offered in 2014. Domestic passengers dropped for the third month in a row.

To read article by Richard K. De Atley in The Press-Enterprise, click here.

Warehouse

A worker makes his way through an aisle at the Pacific Mountain Logistics company on Feb. 17 in Ontario. The San Bernardino-Ontario-Riverside area is one of the most logistics-friendly places in the state, according to a recent report. (File Photo)

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 09/30/15 – 8:20 PM PDT |

The San Bernardino-Ontario-Riverside area is among the top most logistics-friendly places in the state, according to a recent report.

Read the rest of this entry »

California

Chris Kirkham
September 30, 2015

California’s economic growth will continue to outpace the rest of the nation over the next five years, according to a new forecast, though the expansion is expected to slow after next year.

Read the rest of this entry »

Daily Bulletin: Report: California economy on upward trajectory

California

By Kevin Smith, San Gabriel Valley Tribune
Posted: 09/29/15 – 6:13 PM PDT |

California’s economy has made significant strides in recent years with most regions of the state recovering all of the jobs they lost during the Great Recession.

Read the rest of this entry »

The Sun: California housing will get even less affordable, UCLA forecast says

Up Arrow

By City News Service
Posted: 09/28/15 – 4:32 PM PDT |

Housing in California — already considered unaffordable to many — will become even less affordable over the next two years, with construction unable to keep up with demand, according to a UCLA economic forecast released Monday.

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Lou Desmond

Monday, September 28, 2015 – 05:00 p.m.

The Lou Desmond and Company Show is broadcasting from the Toyota of San Bernardino Recording Studios!

On a very special edition of the Lou Desmond and company show, Lou is joined by Tom Del Beccaro, Cliff Cummings and renowned economist Stephen Moore to discuss the state of the economy and what we can do to improve it. Tom also talks about his support of the flat tax and shares more information on that.

Read the rest of this entry »

money

By Jonathan Lansner / Staff Columnist
Sept. 28, 2015 – Updated 12:00 a.m.

The start of the year was very good for Orange County paychecks.

Read the rest of this entry »

The Sacramento Bee: Dan Walters: California economic portrait not pretty

Dan Walters

By Dan Walters
dwalters@sacbee.com
September 26, 2015

  • Seemingly low jobless rate masks reality
  • High underemployment, poverty plague state
  • Children are especially affected by trends

Federal officials released three major economic reports this month and together, they paint a dark picture of California.

Read the rest of this entry »

Daily Bulletin: Economists share positive outlook on Inland Empire economy

IEEFC

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 09/24/15 – 12:31 PM PDT |

ONTARIO >> Local economists say job growth in the Inland Empire and the regional economy are showing positive signs of recovery.

Read the rest of this entry »

Daily Bulletin: New Inland Empire economic research center opens at UC Riverside

UCR

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 09/23/15 – 8:02 PM PDT |

RIVERSIDE >> A new Inland Empire-based research center for economic forecasting will open in October, the School of Business Administration at the University of California, Riverside, announced this week.

Read the rest of this entry »

unemployment down

By Shan Li
September 18, 2015

California’s employers kept up their hiring run in August, adding 36,200 nonfarm payroll jobs and pushing down the unemployment rate to 6.1%.

Read the rest of this entry »

Los Angeles Times: Fed declines to raise interest rate amid global market turmoil

federal reserve

By Jim Puzzanghera and Don Lee
September 17, 2015

Cautious Federal Reserve policymakers on Thursday held a key interest rate at near zero, opting to wait longer to remove the unprecedented easy-money stimulus to determine whether recent global financial market volatility has slowed the U.S. economy.

Read the rest of this entry »

For Sale

Business & Real Estate
By Elliot Spagat, Associated Press
September 17, 2015

San Diego–

California’s summer housing rally cooled in August, a research firm said Thursday, as tight supplies kept a lid on sales and more buyers found prices out of reach.

Read the rest of this entry »

Los Angeles Daily News: Los Angeles, San Bernardino counties battle higher poverty rates

California Poverty

By Brenda Gazzar, Los Angeles Daily News
Posted: 09/16/15 – 9:15 PM PDT |

Local poverty rates remain stubbornly high despite lower unemployment, census figures show.

More than one in five people were living in poverty in San Bernardino County last year while the poverty rate in Los Angeles County didn’t lag far behind, according to data from the U.S. Census Bureau’s American Community Survey.

Read the rest of this entry »

Moreno Valley seal

Leaders and others in the city debate whether the World Logistics Center’s OK is a tipping point for good or bad.

Published: Sept. 4, 2015
Updated: Sept. 5, 2015 – 9:04 p.m.

For many of its 30 years, Moreno Valley has often seen itself in the shadow of its neighbors, especially the larger and more economically successful Riverside.

To read article by Imran Ghori in The Press-Enterprise, click here.

IE Business Daily: California Government: More taxes on a shrinking Middle Class

California Taxes

IE Business Daily

September 5, 2015

In July of this year the State of California passed a total budget of $167 Billion including general fund, special funds, and bond fund expenditures. This is an all-time record funded primarily by increased revenue created by higher taxes on all Californians as well as improved revenues from wealthy taxpayers whose income actually increased.

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economy

By Don Lee and Samantha Masunaga
September 5, 2016

Millions of workers who dropped out of the job market during the last economic slump were supposed to jump back in once things turned around. But more than six years after the Great Recession ended, the missing millions are increasingly looking like they’re gone for good.

Read the rest of this entry »

Lou Desmond

Friday, September 4, 2015 – 05:00 p.m.

The Lou Desmond and Company Show is broadcasting from the Toyota of San Bernardino Recording Studios!

Ed Hoffman, President of Wholesale Capital Corporation, joins Lou on the Show today. They discuss the latest job numbers, which show a record number of Americans out of the workforce. How can these people afford to survive?

Read the rest of this entry »

Economy

By Lucia Mutikani | Reuters
September 4, 2015

WASHINGTON (Reuters) – U.S. job growth slowed in August, but the unemployment rate dropped to a near 7-1/2-year low and wages accelerated, keeping alive prospects of a Federal Reserve interest rate hike later this month.

Read the rest of this entry »

The Sacramento Bee: Dan Walters: Job claims clashing with facts

Dan Walters

By Dan Walters
dwalters@sacbee.com
September 1, 2015

  • Politicians make big promises about spending taxes
  • Estimates of job increases clash with reality
  • Economic effects of raising taxes ignored

The term “voodoo economics” was lodged in the political lexicon 35 years ago by George H.W. Bush, referring to presidential rival Ronald Reagan.

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Daily Bulletin: Rising housing prices drive down affordability

New Home Construction

Workers build single-family homes at the Rosedale housing project in Azusa in this Feb. 26, 2013 file photo. (SGVN/Staff photo by Leo Jarzomb)

By Gregory J. Wilcox, Los Angeles Daily News
Posted: 08/20/15 – 6:34 PM PDT |

Rising home prices across California have eroded affordability to the point that only seven counties, including San Bernardino, have housing that a family earning the median income can afford to buy, according to a study released Thursday.

Read the rest of this entry »

Moreno Valley seal

“This project is a game-changer of proportional magnitude not only for the city but the entire region,” said Mayor Jesse Molina, who was one of three supporters. Council members George Price and LaDonna Jempson opposed the project.

Published: Aug. 19, 2015 – Updated: 11:50 p.m.

After three years of controversy that has divided residents, Moreno Valley officials voted Wednesday, Aug. 19 to dramatically transform the city’s east side with what would be one of the largest warehouse complexes in the country.

To read article by Imran Ghori in The Press-Enterprise, click here.

InlandPolitics: Inland Empire warehouse addiction continues

Howard Warehouse - Redlands

Monday, August 17, 2015 – 09:00 a.m.

The non-stop construction of warehouse properties in the Inland Empire is moving at a break-neck pace.

Read the rest of this entry »

The Los Angeles Times: California braces for falling yuan’s ripples

Currency exchange board showing cross rates between various countries

By Shan Li, Samantha Masunaga and Andrew Khouri
August 12, 2015

At the Beverly Center on Wednesday, a clutch of Chinese tourists spilled out of a bus and into the upscale mall, ready to snap up Gucci purses and Nike sneakers.

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The Sacramento Bee: California’s ‘labor underutilization’ rate still high

Under Employed

Capitol Alert
By Dan Walters
dwalters@sacbee.com
August 11, 2015

  • Unemployment rate has climbed out of the cellar
  • However, by other measures state still lagging
  • Los Angeles County labor picture especially dark

Although California’s official unemployment rate climbed out of the cellar during the year that ended June 30, it still had the nation’s second highest rate of total “labor underutilization,” according to a new federal government report.

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Los Angeles Olympics

The Olympics last came to Los Angeles in 1984, when the city refused to sign a guarantee that it would cover financial overruns. (Ken Hively / Los Angeles Times)

By Peter Jamison
August 11, 2015

Los Angeles is close to reaching an agreement with the U.S. Olympic Committee to be America’s candidate for the 2024 Summer Games, pledging to host the event at a projected cost of approximately $4 billion and offering a guarantee that the city would cover any financial overruns, officials involved with the bid said Monday.

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Lou Desmond

Monday, August 10, 2015 – 05:00 p.m.

The Lou Desmond and Company Show is broadcasting from the Toyota of San Bernardino Recording Studios!

Estimable Economist Jay Prag joins Lou tonight to discuss the announcement that the Ontario Airport will transfer back to local control. Will this be an economic driver for the Inland Empire economy?

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The Press-Enterprise: ONTARIO: Fox personality will speak at Inland forecast

Melissa Francis

Fox Business Network’s Melissa Francis will be the featured speaker at the sixth annual Inland Empire Economic Forecast Conference, Sept. 24 at Citizens Business Bank Arena.

Published: Aug. 4, 2015 – 12:15 p.m.

Fox Business Network’s Melissa Francis will be the featured speaker at the sixth annual Inland Empire Economic Forecast Conference.

To read expanded brief by Fielding Buck in The Press-Enterprise, click here.

The Press-Enterprise: UCR: Study calls warehouse jobs low-paying

Logistics

UC Riverside researchers call for better pay and health care for warehouse workers.

Published: July 30, 2015 – Updated: 11:02 p.m.

  • Average hourly pay for blue-collar warehouse employee: $10.05
  • Employed through temporary staffing agency: 63 percent.
  • Average length of employment: 28 months.

While Inland cities are increasingly looking to the logistics industry for economic growth, two recent studies by University of California, Riverside researchers say the mainly blue-collar employees who work at warehouses are paid poorly and lack proper access to health care.

To read expanded article by Imran Ghori in The Press-Enterprise, click here.

Wage Growth

Markets | Fri Jul 31, 2015 – 9:21am EDT
WASHINGTON | By Lucia Mutikani

U.S. labor costs in the second quarter recorded their smallest increase in 33 years amid tepid gains in the private sector, but it likely was a temporary setback against the backdrop of diminishing labor market slack.

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InlandPolitics: Economy: GDP up 2.3% in second quarter

Economy

Thursday, July 30, 2015 – 07:30 a.m.

The U.S. Commerce Department reading on the U.S. economy reflected a mediocre climate.

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InlandPolitics: Crude oil continues fall, California gas prices barely move

Gas Prices

Friday, July 24, 2015 – 09:00 a.m.

Crude oil prices continued falling on Friday morning, with the price for a barrel of West Texas Intermediate Crude Oil hitting a low of $47.96.

However, California retail gasoline prices have barely budged.

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InlandPolitics: Where’s the gasoline shortage?

Refinery

Wednesday, July 22, 2015 – 04:30 p.m.

New data from the California Energy Commission begs the same question we’ve been asking all year.

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