The 2022 Greater Palm Springs Economic Report shows that some sectors are still struggling with hiring.
The report shows that six of the nine valley cities have not recovered all the jobs lost during the height of the pandemic by March 2022.
The chart shows only Cathedral City, Desert Hot Springs and Indio added jobs. Employment fell the most in Palm Springs.
Leisure and hospitality were the worst-hit sectors, along with other services and retail. Experts discussed the findings Monday at the Coachella Valley Economic Partnership Summit.
“One thing we don’t have as an independent funding stream is regional economic development, and I’m very pleased to see that this is the first time we’ve come together as a valley and said there’s a serious need for funding,” he said. Stone James, director of economic development for Cathedral City.
The report indicates the likelihood of a recession locally, though there are some warning signs to expect in the next 12 months, is unlikely.
We will review the report in more detail tonight on News Channel 3 at 18:00.
You can check the 2022 CVEP Economic Report below:
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