Economy

Only 15 percent of California households could afford the state’s $874,290 median-priced home in the fourth quarter of 2024, according to the California Association of Realtors. That was a 16 percent drop from the third quarter, but unchanged compared with the fourth quarter of 2023, the Los Angeles-based trade association …

U.S. consumers are expected to spend $27.5 billion on Valentine’s Day this year, according to the National Retail Federation. That would top the $25.8 billion spent last year, and would be slightly higher than the previous record of $27.4 billion spent in 2020, the Washington, D.C.-based trade association reported. Shoppers plan …

California added 15,000 non-agricultural jobs in December, compared with a revised 9,600 jobs added in November, the state Employment Development Department reported. Seven of California’s 11 industry sectors gained jobs during December, with leisure and hospitality (+7,500) the highest-gaining industry group, the EDD reported. The state’s unemployment rate went up …

Heading into 2025, the Inland Empire economy appears to be in relatively good shape. In November, the region’s unemployment rate was 5.3 percent, according to most recent data available from the state Employment Development Department. That’s not an outstanding number, but it matches California’s unemployment rate in 2024, and it’s …

U.S. retail sales were strong in December, helped by two holiday shopping days during Thanksgiving weekend that fell during the last month of the year, according to National Retail Federation. Total retail sales, not counting automobiles and gasoline were up 1.7 percent seasonally adjusted month-over-month and up 7.2 percent unadjusted …

Inland Empire manufacturing ended 2024 on a down note. The region’s purchasing managers index in December was 42.5, down from 55.5 in November, according to the Institute of Applied Research and Policy Analysis at Cal State San Bernardino. That was the first time since July the index fell below 50, …