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Happy Thanksgiving! 12 economic trends Southern California can be grateful for

By in Press Enterprise on November 23, 2017

By Jonathan Lansner

This season of thanks certainly should extend to financial matters for many Southern Californians.

Yes, the region has its economic challenges, but the year has provided many uplifting financial trends that should give hope for future advances in the local business climate.

So, to get us into the seasonal good cheer, here are a dozen holiday treats: 12 business patterns for Southern Californians to celebrate in between the turkey, stuffing, cranberries, and pie!

1. Layoffs way down: Fewer Southern Californias are losing their jobs, at least by one key measure.

State employment figures show 690,402 claims were filed for unemployment insurance in the first eight months of 2017 from the four-county region. This year’s pace is down 3 percent from the same period a year ago after falling 1.6 percent in 2015. And it’s down 60 percent from mid-recession 2009.

2. Pay is rising: Local bosses have fewer jobless folks to choose from, so they’ve been forced to pay up for talent.

One federal government pay measurement shows wages in the region rose in the third quarter at a 3.2 percent annual rate after rising at a 3.8 percent annual pace in 2015. This summer marked the 12th consecutive quarter local bosses increased pay at a faster pace than peers nationwide.

3. Women advance in pay: California women have the nation’s second-smallest gap between their typical wages and that of men.

Last year’s gender pay differences — based on median weekly earnings of workers in full-time jobs, both wage and salary positions — show California women earned 88 percent of men’s pay, behind only Vermont. That’s a statewide improvement from 2015 when California women earned 84.8 percent of men’s pay.

4. Confidence up: California shoppers don’t appear to be spooked by economic sluggishness or political turmoil.

The Conference Board’s consumer confidence index for the state […]    

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