OC NETWORK + ECONOMIC DEVELOPMENT WORKING GROUP THURSDAY, AUGUST 11TH, :00 A.M. 11:00 A.M.
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1 OC NETWORK + ECONOMIC DEVELOPMENT WORKING GROUP THURSDAY, AUGUST 11TH, :00 A.M. 11:00 A.M. WELCOME / INTRODUCTIONS / PURPOSE OC REGION UPDATE AND FUTURE DATA REALITIES CRITICAL PERSPECTIVES FROM OC THOUGHT LEADERS PANEL CITY PERSPECTIVE ANNOUNCEMENTS / DECLARATIONS
2 WELCOME AND INTRODUCTIONS 2
3 OC NETWORK MISSION The OC Network is committed to building an educated/skilled workforce, and securing necessary resources to ensure that Orange County businesses in highdemand and emerging sectors are able to thrive within a vibrant and growing economy. 3
4 OC REGION UPDATE AND FUTURE DATA REALITIES OF ORANGE COUNTY DR. WALLACE WALROD CHIEF ECONOMIC ADVISOR 4
5 Unemployment Rate Comparisons: January 2007 June % 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Orange County (4.4%) California (5.7%) United States (5.1%) Source: California EDD
6 Federal Reserve Labor Market Conditions Index Source: California EDD
7 Cal State University Fullerton: Business Expectations Index Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q
8 Chapman University: Orange County Manufacturing Composite Employment Index Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q
9 Chapman University: California Consumer Sentiment Index Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q
10 Chapman University: Current and Future Consumer Sentiment Index Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Current Conditions Future Conditions
11 Projected Components of Population by Age in Orange County, Age % 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Percent of Population Source: California Department of Finance, Demographic Research Unit
12 Orange County Age Trends, Percent of Population 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Source: U.S. Census Bureau, American Community Survey
13 Orange County Population Growth, Overall Population Growth 60,000 50,000 40,000 30,000 20,000 10, ,000 40,000 30,000 20,000 10, ,000-20,000-30,000-40,000-50,000 Population Growth Due to Natural Increase and Migration Population Growth Natural Increase International Migration Domestic Migration Source: California Department of Finance, Demographic Research Unit
14 Projected California County Population Growth by Major Age Groups, : Preschool Age (0 4) School Age (5 17) College Age (18 24) Working Age (25 64) Young Retirees (65 74) Mature Retirees (75 84) Seniors (85 +) Total (All Ages) San Francisco 42% 83% 6% 7% 130% 197% 235% 36% San Diego 12% 18% 2% 11% 144% 211% 274% 31% Orange County 1% 9% 13% 1% 111% 167% 312% 15% California 18% 16% 10% 23% 140% 203% 316% 38% Los Angeles 1% 3% 16% 1% 133% 197% 320% 17% Santa Clara 14% 19% 28% 25% 140% 257% 415% 45% Riverside 28% 18% 28% 61% 194% 240% 443% 68% San Bernardino 24% 18% 18% 47% 220% 286% 541% 56% Source: California Department of Finance, Demographic Research Unit
15 Average Salaries of Fastest-Growing Occupations in Orange County, % $140,000 Percent Growth 50.0% 40.0% 30.0% 20.0% 10.0% $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 Annual Salary 0.0% $0 Projected Growth ( ) Median Annual Salary, 2015 Source: California Employment Development Department, Bureau of Labor Statistics
16 Top 10 Orange County Occupations with the Most Job Openings and Respective Salaries, Projected Job Openings 30,000 25,000 20,000 15,000 10,000 5,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 Median Annual Salary - $- Source: California Employment Development Department
17 Top Ten Occupations by Absolute Job Growth, Cooks, Restaurants Secretaries and Assistants Laborers and Movers General and Operations Managers Customer Service Representatives Janitors and Cleaners Waiters and Waitresses Food Preparation and Serving Workers Retail Salespersons Personal Care Aides -2, ,000 4,000 6,000 8,000 10,000 Actual Growth (2012-Q2 2015) Projected Growth ( ) Source: California Employment Development Department, Bureau of Labor Statistics OES Data
18 CRITICAL PERSPECTIVES FROM OC THOUGHT LEADERS LUCY DUNN, OCBC MIKE RUANE, NATIONAL CORE DAN KELLY, RANCHO MISSION VIEJO 18
19 CITY PERSPECTIVE TONY CARDENAS, LEAGUE OF CITIES 19
20 ANNOUNCEMENTS & DECLARATIONS 20
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