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<br /> <br />2021 Multijurisdictional Local Hazard Mitigation Plan <br /> <br />4.5 ECONOMY <br />4.5.1 Living Wage <br />The Massachusetts Institute of Technology (MIT) has developed a calculator to estimate the living wage needed <br />to support different types of families. It estimates geographically specific living wages, as an hourly rate, required <br />to acquire basic minimum necessities such as health, housing, and transportation. Table 4-7 presents summary <br />information from the calculator for San Mateo for 2020. <br /> <br />Table 4-7. 2020 Hourly Living Wage Calculation for San Mateo County <br /> One Adult One Adult + One Child Two Adults Two Adults + One Child <br />Living Wage $28.00 $55.59 $41.13 $49.45 <br />Poverty Wage $6.13 $8.29 $8.29 $10.44 <br />Minimum Wagea $12.00 <br />a. 2020 California Minimum Wage for Employers with 25 Employees or Less <br />Source: Massachusetts Institute of Technology, 2020 <br /> <br />4.5.2 Household Income <br />Based on U.S. Census Bureau estimates, per capita income in the planning area in 2019 was $68,949, and the <br />median household income was $138,500. It is estimated that 16.9 percent of households receive annual incomes <br />between $100,000 and $149,999, 46 percent receive annual incomes above $150,000, and 8.3 percent make less <br />than $25,000 per year. According to the 2019 Census estimates, 3.1 percent of households and 6.0 percent of <br />individuals had income that fell below the poverty line. <br /> <br />4.5.3 Employment by Sector <br />Figure 4-8 shows the breakdown of employment by industry sector in the planning area, as reported in the 2019 <br />American Community Survey. <br />Arts, entertainment, <br />and recreation, and <br />accommodation and <br />food services <br />9.4% <br /> <br /> <br />Educational services, <br />and health care and <br />social assistance <br />Other services, <br />except public <br />administration <br />4.1% <br />Public administration <br />3.4% <br />Agriculture, forestry, fishing <br />and hunting, and mining <br />0.6% Construction <br />5.7% <br />Manufacturing <br />7.7% <br />Wholesale trade <br />1.7% <br />Retail trade <br />9.1% 20.0% Professional, <br />scientific, and <br />management, and <br />administrative and <br />waste management <br />services <br />20.3% <br /> <br /> <br /> <br /> <br />Finance and insurance, and real <br />estate and rental and leasing <br />7.6% <br />Transportation and <br />warehousing, and <br />utilities <br />5.8% <br /> <br />Information <br />4.6% <br /> <br /> Figure 4-8. Industry in the Planning Area <br /> <br /> <br />4-18