Employent growth in the Inland Empire has slowed, but wage gains continue. That's according t a report released Tuesday by UC Riverside's School Of Business. KVCR's Benjamin Purper has more.
The report from UCR’s Center for Economic Forecasting and Development shows that nonfarm employment in the Inland Empire increased by 1.7%, about the same as the state average.
Despite that, though, wages in the I.E. have continued to increase. Earnings in the region grew 2.6% from 2017 to 2018.
According to the report, that wage growth has triggered greater consumer and business spending. Taxable sales in the I.E. increased 7.8% from the first quarter of 2018 to the first quarter of 2019.
That means increases in nearly every local spending category from restaurants and hotels to business and industry.
You can learn more and read the report at UCREconomicForecast.org.
For KVCR News, I’m Benjamin Purper.