UCR: Local Wage Growth Fuels Taxable Sales, Real Estate

By Staff Reports

(Victor Valley)– The Inland Empire continues to drive economic expansion in California. Employment growth is still surpassing statewide gains, the University of California Riverside reported.

Job growth lowered the Inland Empire’s unemployment rate, and perhaps more important, the region’s labor force continues to expand despite statewide declines overall. Wages are also increasing steadily. Overall nominal earnings grew 3.8% from the first half of 2018 to the first half of 2019, increasing 3.7% in Riverside County and 3.9% in San Bernardino County. Wage growth over the past year has fueled activity in many sectors, reflected in steady increases in taxable sales. Sustained demand has also fueled growth in residential and commercial real estate.

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