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Inland Empire Prosperity: Insights from Chief Economist John Husing, Ph.D.

Discover insights on Inland Empire's job market, economic growth, and industries from Chief Economist John Husing, Ph.D. Explore job trends, skill requirements, and sector analysis for a comprehensive understanding of the region's economy.

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Inland Empire Prosperity: Insights from Chief Economist John Husing, Ph.D.

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  1. Inland Empire Prosperity . . . John Husing, Ph.D. Economics & Politics, Inc. Chief Economist, IEEP

  2. After Losing 8.71 Million Jobs … Now At A Record Level of JobsU.S. Jobs Long Slow Growth - Not Over-Heating

  3. California Job Gains/Losses Up 1,064,038 6.7% Up 2007 15,844,325 2016 16,908,363 Recovery 2,243,097 Great Recession -1,179,058

  4. Inland Empire Population Greater Than 25 of 50 States 2010-2016 Growth: 6.2%

  5. Inland Empire Economy Gaining Strength!

  6. Job Quality

  7. Inland Empire Growth was the 2nd LargestAbsolute Job Gain in California in 2015!

  8. Unemployment Rates

  9. The Issue: Poverty

  10. High School or Less Education

  11. BA or Higher

  12. What Workers Are CEO’s Seeking?

  13. Interviewed Interviewed One-on-One 50 CEOs, Entrepreneurs, HR Directors 18 Sectors

  14. General Hiring Themes Demonstrated Teamwork Hands-on Experience Academic Knowledge Career Technical Education

  15. Aptitudes/Attitudes • Life Goals (Some Idea What Want To Be) • Personality (Friendliness, Ambition, Interest, Innovation) • STEM (Willingness to Learn Required Knowledge) • Received Certifications (To Industry Standards)

  16. What Skills? Software Design, Installation, Adaption, Usage Accounting, Accounts Payable, Receivable, Payroll Microsoft Word, EXCEL, Powerpoint Middle Managers Water Supply, Recycling, Clean-Up Auto/Truck Mechanics Truck Drivers Production Machining, Welding, Electrical, Repair Construction Trades Nursing, MRI, CT Scans, Sonography, Lab Tech, Coders

  17. Era of Extreme Technical Change Need To Constantly Retrain and/or Upgrade Skills

  18. What’s Needed From Educators Evenings Weekends Weekdays $20 per hour Jobs Rapid Course Creation Training Times Technically Up to Date Industry Standards Hands-On

  19. Gold Mine Theory Secondary Tier Primary Tier

  20. Health Care

  21. Potential Impact On Health Care Demand & Quality of Life -51.0% Drop in Uninsured -53.8% Drop in Share Uninsured

  22. Health Care Jobs: Continuous Growth • 2011-2016 • 11.6% of Job Growth • Median Pay $59,494 Inland Empire’s Best Sector for Higher End Jobs

  23. High Paying Sectors Ahmad Adel Al-Khatib Jack Dangermond

  24. Professionals & Mgmt., Higher Ed., Mining Utilities, Information Group Slowly Adding Jobs 2011-2016 0.4% of Growth Median Pay $71,206

  25. Office Market Vacancies Improving 24.2% 12.4%

  26. Sophisticated Warehousing Operations

  27. Value of the Dollar:Helps Imports & Hurts Exports 100.0 2012-2016 25.6%

  28. Port Container VolumesOn Pace To Tie 2nd Highest Import Level

  29. E-Commerce Growth RatesYear Over Year by Quarter 1.1% 8.4%

  30. Industrial OverwhelminglyIn The Inland Empire

  31. Logistics Powerful Job Growth • 2011-2016 • 23.1% of New Jobs • Median Pay $45,456

  32. PM 2.5: Diesel Pollution -91.4%

  33. Manufacturing: Should Be A Major Growth Source

  34. California Manufacturing Job GrowthJust 4.8% of U.S. Growth

  35. Inland Empire Manufacturing Jobs • 2011-2016 • 5.5% of Job Growth • Median Pay $50,106

  36. Construction: Finally Coming Back

  37. Home Price Trends -24% 109%

  38. Long Term Competitive Price Advantage Still Exists

  39. Inland Empire Construction Jobs • 2011-2016 • 12.8% of Job Growth • Median Pay $51,915

  40. Summary: Look Ahead • Trump Impacts Hit Mostly in 2018 • Health Care Strong But Under ACA Repeal Threat • Logistics Strong But Under Tariff Threat • Manufacturing Encouraging Except For CA Environment • Infrastructure Construction Helped By More Spending Except For CA Environment • Residential Market Stabilized But Possibly Hurt By Rates • Industrial Construction Strong But Under Tariff Threat • Office Market Weak Due to E-Commerce & Vacancy Levels • Retailers Modest Growth But Under Threat from Tariffs & E-Commerce • Forecast: 39,600 Jobs … 2.8% Unemployment 6.3%

  41. www.johnhusing.com

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