AgdaPkt 2016-12-12 Closed and Joint SA PFA

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6.3.A. - Page 94 Based on the Business Activity table above, what are the major employment sectors within your jurisdiction? Changes in labor and employment characteristics have a direct impact upon current and future housing needs. Different industries and occupations within a particular industry often translate into different wage levels. These differences in wages directly impact a household's ability to afford certain types of housing, the ability to rent or own housing, and the ability to adequately maintain housing. Approximately 39,100 Redwood City residents were employed in 2012, which represents a decrease from 2000 when 1,000 more residents were in the workforce. This is reflective of the slight increase in residents aged 60 — 74 (more likely retirees) and the small increase in school -aged children. Most of the residents are primarily employed in two categories: managerial/professional and sales and office occupations. Between 2000 and 2012 there was a significant increase in the proportion of residents in service occupations. All other categories of occupations decreased in real numbers, as the number of employees in the city decreased. According to "Trends Affecting Workforce Development in San Mateo County and the San Francisco Peninsula" by Silicon Valley Institute for Regional Studies, which was commissioned by San Mateo County Economic Development Association (SMACEDA), the information, professional, scientific and technical services sectors have and will continue to lead the Peninsula's economic base. Health care and the leisure and hospitality sectors (including restaurants) will also produce large job gains in the foreseeable future. Construction and related sectors are expected to continue their expansion. Describe the workforce and infrastructure needs of the business community: According to "Trends Affecting Workforce Development in San Mateo County and the San Francisco Peninsula" report, there are two important high-level occupational trends that hold significance for the Peninsula: One is that the Peninsula economy, like that of the Bay Area, will continue to have more low-wage and high -wage jobs, and fewer in the mid-range. Specifically, the Peninsula will have more jobs that have a median wage under $20 per hour and more jobs above $35 per hour, and either segment will outnumber middle wage jobs paying between $20 and $35 per hour. Helping all low wage workers move up will be extremely challenging. Second, over the next ten years more than 2 of every 3 job openings available to workers/students and needed by businesses will be to replace people who retire or change occupations. Identifying and working to prepare job seekers for these jobs, rather than concentrating primarily on job growth, will become increasingly important. Consolidated Plan REDWOOD CITY 91 OMB Control No: 2506-0117 (exp. 07/31/2015)