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California’s unemployment rate fell to 4.9 percent in October, as state employers added 31,700 jobs, according to data released Friday. That represented a drop of 0.2 percent from September, the state Employment Development Department reported in its monthly assessment of the state’s job market. Most sectors posted gains, with leisure/hospitality …

Stanford economist Raj Chetty will deliver a Chancellor’s Distinguished Lecture at UC Riverside. Chetty is scheduled to speak from 1 to 2:30 p.m. Dec. 1 at the University Theatre, according to a statement. The event is free and open to the public. Chetty was one of the youngest tenured professors …

Rob Webb has been named Hemet’s next police chief. He will replace Scott Brown, who is retiring so he can run for Riverside County Sheriff, according to multiple reports. Webb, 49, began his career in law enforcement with the San Diego Harbor Police. He  joined the Hemet Police Department in …

The UC Riverside School of Business Center for Economic Forecasting and Development has started a new website. The site, UCREconomicForecast.org includes a monthly state employment report, an Inland Empire business activity index, a quarterly Inland Intelligence report and an ongoing series of economic papers. “It’s designed to help everyone,” said …

Housing affordability in California hit a 10-year low during the third quarter, according to the California Association of Realtors. Twenty eight percent of California households could afford the median price of $555,680 during that period, down one percent from the second quarter and three percent year-over-year, the trade association reported …

Flagstar Bancorp Inc. has agreed to buy eight branch offices of Desert Community Bank in San Bernardino County. Cost of the transaction was not disclosed, but the eight branch offices combined have an estimated $600 million in deposits and $70 million in loans, according to a statement. The purchase, which …