Inland Empire Report shows regional economic and industry growth
JOBS OF THE FUTURE REVEALED FOR SAN BERNARDINO AND RIVERSIDE COUNTIES
Report shows regional economic and industry growth
SAN BERNARDINO, CA (April 10, 2014)—The County of San Bernardino announced today occupations that will be in high demand over the coming years in San Bernardino and Riverside counties.
The Economic Trends and Forecasts Report lists sectors that will see the largest growth and pinpoints 75 specific careers that are predicted to see an increase. The report, compiled by Chmura Economics and Analytics, commissioned by the County of San Bernardino Workforce Investment Board, was presented on Wednesday, April 9 to representatives from the region’s business community.
The report recommends actions to expand the supply of locally trained and credentialed workers and that the type of intervention needed to strengthen the talent pipeline will vary between the occupations. Additional outreach may be required, for example, in communities with low-education attainment to foster greater interest in key fields.
Key findings of the report are as follows:
- Three broad sectors primed to create the bulk of jobs over the next three years are healthcare, transportation and warehousing, and construction.
- In the longer term, the Inland Empire has four industry clusters that are likely to expand employment in excess of 3% per year over the next decade. These industries—utilities, professional services, healthcare, and construction—represent about one-fifth of the total employment in the region and are likely to expand faster than the overall pace of job growth in California.
- Over the next ten years, job growth in the Inland Empire is expected to be reasonably balanced with greater than 2% annual expansions across job cohorts, regardless of educational requirements.
- About 60% of occupations with the highest projected gaps over the next ten years will require postsecondary education. About one quarter of these occupations are likely to require a STEM-related (Science Technology, Engineering, and Math) degree or specific training in a healthcare field.
- In the case of gaps related to positions that require only short-term on-the-job training, it is likely that the Inland Empire economy will not suffer from widespread skill-shortages, but there is a need to facilitate the transition of workers from declining industries—such as low-value-added food service—into higher-level service sector jobs that are likely to be growing rapidly over the next decade—such as home-health aides, HVAC technicians, and market research analysts.
- The region may need to ‘import’ graduates in trades such as business and finance, education, architecture and engineering. This may be an opportunity to encourage residents who have moved out of the area for education back here for employment.
- The Inland Empire’s population will grow much faster than the State and Nation over the next decade – in the last 10 years it grew at 2.2% compared to 1% statewide and nationally. This will help the region’s long term economic prospects.
- Housing prices are on the rise. Foreclosures could represent less than 5% of all sales by the end of 2014 in both San Bernardino and Riverside Counties.
- Perhaps most importantly, housing prices have bottomed out and are slowly, but steadily, moving upwards.
- Building permits, a leading indicator of economic activity, should maintain at double-digit expansion over the next two years and are projected to beat the statewide norm.
Sandy Harmsen, Executive Director for the Workforce Investment Board, relies on economic reports like this one as a key resource. She said, “planning for market change is imperative for the Workforce Investment Board. The Board is composed of our region’s top business leaders who know the climate of business in the local area. The Economic Trends and Forecasts Report allows our board to assess current and future industrial trends and develop programs best suited to drive economic growth and job creation in our county.”
About the Workforce Investment Board of San Bernardino County
The Workforce Investment Board of San Bernardino County (WIB) is comprised of private business representatives and public partners appointed by the County of San Bernardino Board of Supervisors. The Workforce Investment Board strives to strengthen the skills of the County’s workforce through partnerships with business, education and community-based organizations. The County of San Bernardino Board of Supervisors is committed to providing county resources, which generate jobs and investment.
The Workforce Investment Board, through the County of San Bernardino’s Economic Development Agency and Workforce Development Department, operates the County of San Bernardino’s three America’s Job Centers of California (AJCC). The AJCCs provide individuals with job training, placement and the tools to strengthen their skills to achieve a higher quality of life. The AJCCs also support and provide services to the County’s businesses, including employee recruitment and business retention programs.
Employers and job seekers who are interested in the Workforce Investment Board programs may call: (800) 451-JOBS or visit www.csb-win.org.
Also follow us on: Facebook www.facebook.com/SBWIB, Twitter @InlandEmpireJob, and YouTube http://www.youtube.com/SBCountyWIB.
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