Best Jobless Report in Three Years

October 22 00:00 2011

New York, October 22 ( – The latest employment report provides promising statistics regarding month-to-month and year-to-year gains indicating that companies are hiring again, said Chapman University economist Esmael Adibi. He described the report as “the best (inland region) jobs report we’ve had in almost three years. In the Inland Empire, we’ve been losing jobs practically every month.”

The report indicates that unemployment rate fell in California from 12.1 percent in August to 11.9 percent in September. In the inland region, the jobless rate fell in Riverside and San Bernardino counties from 14.1 percent in August to 13.4 percent and from 14.6 percent in September 2010.

The construction, government, transportation and other once-troubling sectors are showing signs of improvement. In Riverside County, the unemployment rate dropped to 14 percent from 14.7 percent in August.

Adibi pointed out that in September 5,000 jobs were added in the Inland Empire. The civilian labor force grew by nearly 16,000 last month to 1,518,100.

Adibi commented that “At least this report shows there is some job creation kicking in. The problem is, when the unemployment rate is at 13.4 percent, we need to create many more jobs to really make a significant dent.” He added “Construction jobs — that was a big, big development because that has been a big drag on the economy.”