December Digital Whistle

Events & Membership Updates:

• On December 5 at 4 p.m. at Escape Brewery in Downtown Redlands, MCIE hosted a holiday happy hour, celebrating this year’s accomplishments and even better things to come in the New Year. The event was sponsored by Shorebreak Energy Developers. Brent Beckwith gave a short summary presentation of the cost benefits of commercial solar installations. About 35 people attended, from the High Desert Manufacturers Council and Inland Empire. Pizza, snacks and great conversations were enjoyed by all.

Stay tuned for announcements for our next events in the coming year!

Economic Update:

• (Dec 8) – Unemployment rate fell from 3.9% to 3.7% in November as payrolls increased by 199K. California has the third highest unemployment (4.8%) in the nation after the District of Columbia (5.0%) and Nevada (5.4%). (CNBC)
• (Dec 13) – The FOMC meeting of the Federal Reserve left rates in the 5.25% – 5.50% where they had been since July. The announcement after the meeting hinted at multiple rate cuts in 2024.

• (Dec 19) – California Manufacturers & Technology Association (CMTA) summarized the new laws going into effect on January 1 that will impact manufacturers and business owners in California, including AB 1305 concerning carbon disclosure reporting, SB 616 expanding paid sick leave, SB 497 concerning equal pay and retaliation protection. Later in 2024, SB 244, the law concerning the ”Right to Repair,” will go into effect. (CMTA)