San Bernardino and Riverside counties...lost jobs in 2007... first time since records kept

[El Pinko]

http://www.pe.com/business/local/stories/PE_Biz_D_consumers16.29a8026.html


Inland consumer confidence falls as does U.S. trend

08:19 PM PST on Friday, February 15, 2008
By JACK KATZANEK
The Press-Enterprise
The news that taxpayers will receive rebate checks by spring apparently did little to assuage fears that the economy is in a tailspin.

Consumer confidence fell to a 16-year low this month, as shoppers are taking notice of declining home values, a weak job market and consistently high gas prices. The Reuters/University of Michigan preliminary index of consumer sentiment fell to 69.6 from 78.4 in January, it was reported Friday.

....

A weaker economy and diminishing consumer confidence is taking its toll on local businesses, including Star Furniture Gallery on Magnolia Avenue in Riverside.
Last week, the U.S. Department of Labor reported the first drop in employment in more than four years.

In San Bernardino and Riverside counties, the preliminary indications are the area lost jobs in 2007 for the first time since records have been kept.

[XemaSab]

1. Interesting....

It seems like there was a rush out to the Inland Empire a few years ago, but dude... A lot of the towns out there look like ghettos. Bars on the windows, graffiti, the whole nine yards. :(

[Trajan]

2. Having travelled down Santa Ana canyon every day ....

From my home in Riverside to my work in Orange County .... I can tell you that most denizens of western Riverside county commute to work in OC or LA ..... The east side is sparsely populated, and can only form a small percentage of the whole workforce at any rate ....

I am sure the 91 is just as joyful as ever at 6 AM ....

[kurth]

3. Most new jobs in the Inland Empire were created by the housing boom

No surprise there.