Today we present you with a sneak peek of our 19th Annual CVEP Economic Report. Our team from Claremont McKenna College, headed by Professor Manfred Keil, is busy finalizing the analysis of the latest economic data for the Coachella Valley. The final report will be available in digital form soon after our October 11 Summit. During this premier event, our esteemed leader, Joe Wallace, will be presenting some highlights from the upcoming report. And a printed report of invaluable Socioeconomic metrics will be distributed at the Summit. Today we get a glimpse of two graphs from the upcoming report: Average Pay per Worker by Industry Sector in the Coachella Valley, and Employment Sector Distribution in the Coachella Valley.
For 2022, here in the Coachella Valley, the annual average pay per worker varies from over $70,000 in the Finance and Information, Insurance, and Real Estate sector, to nearly half of that for Leisure and Hospitality workers, with average annual wages of $37,504.
But unfortunately, as this next graph shows, the lowest-paid sector employs over a quarter of Coachella Valley workers. Like a roller coaster, the next sector supplying the most jobs has the next to highest average pay – Education and Health Services at $72,902. And down we go with the next sector, Retail Trade, with $43,749 in average annual pay.
With nearly 47% of employment here in the four lowest-paid sectors, we need, as a region, to grow opportunities for employment with higher wages. How do we accomplish this? At our Summit on October 11, CVEP will make the case. CEO Joe Wallace will implore us to “cooperate regionally for a better future.”