Economy

Retail sales during November and December totaled just under $692 billion, a year-over-year increase of 5.5 percent, according to the National Retail Federation in Washington, D.C. Higher wages, stronger employment and more consumer confidence prompted shoppers to spend more during the 2016 holiday season than they were expected to spend, …

The U.S. economy added 148,000 jobs in December, well below the 190,000 it was expected to create, according to data released Friday. That number was also well below the 252,000 jobs – a revised number – that were created November, the U.S. Department of Labor announced in its monthly jobs …

Year-over-year unemployment rates fell in 304 of the 388 metropolitan areas during November, according to data released Thursday. Also during November, joblessness was higher in 67 areas and did not change in the remaining 17 markets, the U.S. Bureau of Labor Statistics reported in its monthly unemployment report. Sixty nine …

Manufacturing in the Inland Empire expanded for the twelfth consecutive month in December. The region’s purchasing managers index was 51 during the last month of 2017, one point above the 50 benchmark that denotes growth or no growth, the Institute of Applied Research and Policy Analysis at Cal State San …

The Inland Empire economy is finishing 2017 on a strong note, with employment up and the region’s population also growing. Riverside and San Bernardino counties combined experienced year-over-year job growth of three percent in October, twice the growth rate of California during that month, according to a recent study by …

UC Riverside has an estimated $2.7 billion annual impact on the U.S. economy, according to a report conducted by the school. The report, which was released Monday, called the university an “economic powerhouse” for the Inland Empire, saying its multiple research programs help fuel growth and attract jobs to the …