The research, which lists preliminary labor force statistics for the previous month, says that San Bernardino's unemployment level has decreased by 0.3%, dropping from 5.7% in October 2002 to 5.4% in November 2002. The region's unemployment rate has not dropped this low since May 2002 when the level was recorded as 5.2%.
The county is faring much better than the majority of the state, placing 13th in the state for its unemployment rate. In addition, it has once again reported a lower level of unemployment than the statewide average. The state's overall unemployment rate is 6.3%, nearly a whole percentage point higher than San Bernardino's unemployment level for November.
The rise in employment signals good news for the region's commercial real estate market, which has long been known as the Southland's industrial stronghold. The county is slowly shedding that image, as it attracts the attention of developers interested in building high-end office, retail and multifamily product.
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