Unemployment Up Again; Honoring Veterans in the Local Economy

UNEMPLOYMENT UP AGAIN, HONORING VETERANS IN THE LOCAL ECONOMY

The Inland Empire’s seasonally adjusted unemployment rate was 5.7% in October - up from 5.5% the prior month - according to new data released today. Regional unemployment is higher than the statewide rate and has increased in 6 of the last 7 months. 



Like last month, the seasonally adjusted unemployment rate rise has coincided with monthly job growth in the Inland Empire. Total non-farm employment last month was up 1.4% compared to October 2023 (+23,600 jobs). The region added 16,900 jobs last month, led by trade, transportation, and utilities (+5,500 jobs), government (+5,100 jobs), and healthcare and social assistance (+2,100 jobs). Manufacturing was the only sector that lost jobs last month (-1,000 jobs). In addition to overall job growth, the number of unemployed individuals actively looking for work increased 1% to 119,800 last month (+1,200 people). 

VETERANS CRITICAL TO THE INLAND EMPIRE WORKFORCE

As we celebrate our nation’s veterans this week, we recognize the important role former servicemen and servicewomen play in our community and economy. There are an estimated 194,000 veterans in Riverside and San Bernardino counties, 6% of all residents over 18 years old. A recent report by the Inland Empire Community Foundation found the share of veterans in the Inland Empire is near double the percentage of veterans that make up the population in neighboring Los Angeles County. While veterans in California’s labor force are more likely to be working than the non-veteran population, the veteran unemployment rate has been steadily increasing the last several months.  

HONORING MILITARY SERVICE IN EDUCATION AND EMPLOYMENT

One way to reverse this trend is to connect transitioning service members to in-demand jobs that are driving our region’s growth. Translating military experience, skills, and competencies into college credit and civilian job postings is one strategy local institutions have been focused on. 

In the Fall of 2017, Norco College, which is part of the Riverside Community College District, began the Military Articulation Platform (MAP) initiative. MAP equates Joint Services Transcripts (JSTs) to military Credits for Prior Learning (CPLs), reducing the time and costs a veteran must stay in school. The Inland Empire Desert Region Consortium helped expand the program to all 12 community colleges in the region. Today, the program is statewide. This effort honors the service and experience of ex-service members, while helping more Inland Empire veterans get the skills and credentials they need to compete in the labor market. Additionally, each community college has a Veteran’s Resource Center on their campuses to help guide and counsel veterans as they pursue their goals. 

Another example comes from Southern California Edison (Edison). Edison has also taken strides to fast-track veterans into in-demand energy and utility jobs such as Linemen, Helicopter Pilot, Cybersecurity Technician, Automotive Technician, Operations Manager, and more. The utility has a Military to SoCal Edison Skill Translator tool that takes a military job title or code and matches it with open opportunities in the organization. 

Efforts like these in the Inland Empire can help many veterans gain a foothold in the civilian job market and for local employers to tap into the skills and experiences veterans offer. 

To learn more about this data or IEGO’s Labor Market Research, please email researchrequest@iegocollaborative.org