November Digital Whistle

Events & Membership Updates:

• MCIE HOLIDAY MIXER: Register Now for Tuesday, December 5 from 4pm – 6:30pm at Escape Brewery in downtown Redlands.  Join us for a happy hour of merriment, networking, and holiday cheer as we reflect on the year’s accomplishments and look forward to new opportunities! Sponsored by SHOREBREAK ENERGY DEVELOPERS.

For more details and to purchase tickets (space is limited), visit this link.

• PAST EVENT: November 9 at 3:45 on Zoom, MCIE hosted a webinar “Energy Prices – How High Can They Go and How to Survive,” with a panel of experts on the Southern California energy market and industrial applications of energy systems designed to mitigate pricing unpredictability on your bottom lines. Over 20 members attended the event that covered market predictions, grant money available for energy efficiency upgrades, and how renewable energy can improve your top and bottom line. Many Thanks to our speakers: Johannes Moenius, Ph. D. Professor of Economics at the University of Redland; Anthony Papavero, President of Current Renewables Engineering Inc.; and Brent Beckwith, Shorebreak Energy Developers.

Economic Update:

• (Nov 17) – California’s October 2023 Unemployment Rate rose from 4.7% to 4.8%. Ahead of the holiday season, the Logistics and Transport sector had one of its first good months this year. Large Year over Year declines occurred in the IT and Professional Services categories. (State of California EDD)
• (Nov 17) – The Orange/Los Angeles/Riverside/San Bernardino County Region saw unemployment decline from 5.2% to 4.7% as logistics traffic increased ahead of the holiday season. (Orange County Register)
• (Nov 3) – Unemployment rate rose to 3.9% in October as payrolls increased by 150K. California has the third highest unemployment (4.8%) in the nation after the District of Columbia (5.0%) and Nevada (5.4%). (Bureau of Labor Statistics)

• (Nov 1) – The US dollar fell against most currencies (making imports more expensive and exports more competitive) on news that the Federal Reserve may halt raising interest rates. The FOMC announcement after the meeting left rates in the 5.25% – 5.50% where they had been since July.