Economy

At $16 an hour, California has one of the highest minimum wage mandates in the country. Last September, the state got even more generous when Gov. Gavin Newsom signed into law AB-1228, which raised the minimum wage of fast-food worker to $20 an hour. That law, which was backed by …

Inland Empire employers added 2,700 non-agricultural jobs month-over-month in May, a solid increase for the two-county region, according to data released last week. The unemployment rate in Riverside and San Bernardino counties during the fifth month of the year was 4.3 percent, down from a revised 4.8 percent in April, …

U.S. retail sales rose sharply in May, increasing both month-over-month and year-over-year, the National Retail Federation reported. Total sales, not counting gasoline and automobiles, were up 1.35 percent from April and three percent from May 2023, the federation reported. The April-to-May data was adjusted for seasonal factors that typically impact …

The Inland Empire manufacturing sector recorded it fourth consecutive month of growth in May, according to data released June 3. The region’s purchasing managers index for the fifth month of the year was 51.1, a sign that manufacturing and the economy in Riverside and San Bernardino counties were growing, according …

Third-party logistics companies are dominating one sector of the Inland Empire industrial market. Those companies, which businesses hire to handle their supply chain responsibilities, account for nearly 60 percent of all “big-box” transactions in Riverside and San Bernardino counties, according to a report by CBRE. No other U.S. industrial market …

Sales of existing single-family homes in California totaled 275,540 in April, up three percent from March and 4.4 percent year-over-year, according to a report. Statewide, the median price of a home during the fourth month of the year was $904,210, a 5.8 percent from March and an 11.4 percent increase …