Friday, March 25, 2016 – 11:00 a.m.
The Inland Empire’s economic cheerleader was out touting the region’s job growth this week.
But he didn’t say much about all-important wage growth.
On Thursday, John Husing, the area’s paid cheerleader, gave a upbeat presentation at the annual State of the Region presentation by the Inland Empire Economic Partnership in Ontario.
Yes, according to Husing, warehouse and logistics jobs are booming due to the area’s cheap and vacant land.
But. Throw in low-educated labor and you have a mix that provides for low wages and slow economic growth.
It took another area economist, Economics and Finance Professor Jay Prag, at the Drucker School of Management at Claremont Graduate University, to point out that wage growth is weak.
Yes sir. All those $10 to $15 per hour warehouse jobs are rocketing the regional economy forward, even though it’s not a much greater stimulus than public assistance and/or unemployment benefits.
Husing also says that healthcare jobs will be another area of growth, due to the affordable care act.
But there’s that pesky poorly educated employment pool of workers.
We’ve been saying it for some time now. The job growth is nice. But the imbalance of low-paying jobs is a detriment to the economy, in particular, the real estate market.
Here’s a link to a Daily Bulletin article on the subject: Inland Empire economist touts regional job growth, but wages lag a bit