Small Businesses Report Difficulty Filling Positions
Since March, the nation’s job openings rate has exceeded the unemployment rate, making it difficult for small businesses to fill positions, according to the United States Small Business Administration. The latest estimates indicate the job openings rate is 4.4%, while the unemployment rate estimate is 3.9%. According to a monthly National Federation of Independent Businesses (NFIB) survey, 38% of small businesses were unable to fill open positions in August, up from 8% in 2009. The August NFIB survey also indicated that difficulty finding qualified workers is the single most important problem faced by business owners.
CalChamber Reports Status Of Major Business Bills
The California Chamber of Commerce today reported the status of numerous business-related bills as of August 31, when the state legislature began its final recess. The report includes the status of dozens of bills related to agriculture, banking, climate change, corporate governance, energy, education, immigration, housing and more. September 30 is the last day for Gov. Jerry Brown to sign or veto bills passed by the legislature. Bills signed by Brown become law on January 1. Exceptions include urgent and tax- and budget-related measures, which go into effect immediately upon being signed.
Los Angeles Area Rent Increases Continue
Rent growth in the Los Angeles metropolitan area was 3.6% in August year-over-year, according to a monthly multi-family report by real estate analytics firm Yardi Matrix monthly. The forecasted rent growth for 2018 is 4.3%. The occupancy rate as of July was 96.9% in the L.A. area. Of the 30 metro areas surveyed, 21 reported year-over-year rent increases of more than 1.5%, the report stated.
All Homes Purchased In Newest Northeast Long Beach Community
Brandywine Homes announced yesterday that all 131 single-family homes in its Riverdale community in Long Beach have sold, with many homes still under construction. As of August, 48 homes in the northwest Long Beach gated community had been completed and moved into. Remaining homes are expected to be completed in December, according to Brandywine Principal Dave Barisic. Homes range in size from 1,925 to 2,242 square feet, with prices starting in the low $600,000s. Riverdale is the company’s largest project to date, Barisic stated in a press release.
New Age Store Leases Former Rubber Tree Location
After more than two decades as the sex boutique Rubber Tree, the Belmont Shore storefront at 5018 E. 2nd St. is slated to become the new home of New Age retailer House of Intuition. The company was founded by Alex Naranjo and Marlene Vargas in 2010 and sells crystals, candles, tarot cards, oils and more. The Long Beach location is the company’s fifth in Southern California. Catherine Morris, vice president of William Morris Commercial (WMC), handled the lease. House of Intuition is expected to open in the next 30 to 60 days, according to Toliver Morris, president of WMC.