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5.10 SOCIOECONOMICS
<br /> San Joaquin County's vacancy rate has declined from the more than 4 percent rate that
<br /> existed in the 1990s to the most current (January,2008) rate of 3.94 percent. The City of
<br /> Lodi s vacancy rate has also improved slightly from the 3.4 percent rate that existed in the
<br /> 1990s to the most current (January 2008) rate of 3.2 percent. As such,housing supply is
<br /> limited in the city and county based on the federal standard vacancy rate of 5 percent.
<br /> TABLE 5.10-3
<br /> Housing Estimates by City,County,and State,January 1,2008
<br /> Mobile Percent
<br /> Area Total Units Single-Family Multi-Family Homes Vacant
<br /> City of Lodi 23,353 16,614 6,274 465 3.21
<br /> San Joaquin County 227,339 176,067 41,541 9,731 3.94
<br /> California 13,444,455 8,678,120 4,171,373 594,962 5.88
<br /> Source: DOF, 2008a.
<br /> 5.10.2.3 Economy and Employment
<br /> Between 2002 and 2007,employment in San Joaquin County or the Stockton Metropolitan
<br /> Statistical Area (MSA) increased by 16,600 jobs,or about 8 percent. This 8 percent increase is
<br /> higher than California's net increase (5 percent) during the 2002 to 2007 period (California
<br /> Employment Development Department [CEDD] 2008a). As shown in Table 5.10-4,on a
<br /> percent increase basis,wholesale trade experienced the largest increase in employment,
<br /> followed by services. Although the percentage increase in the wholesale trade sector was the
<br /> highest between 2002 and 2007,the contribution of this sector to the Stockton MSA economy
<br /> remained small (3 to 5 percent). By contrast, during the same 5-year period,the workforce in
<br /> the services sector increased by about 9,000 workers to a total of 71,200 workers. The jobs in
<br /> the construction sector increased by only 200 during the 2002-2007 period. Employment
<br /> losses were experienced in the agriculture and information sectors.
<br /> TABLE 5.10-4
<br /> Employment Distribution in Stockton MSA,2002 to 2007
<br /> 2002 2007 2002-2007
<br /> Employment Employment Average Annual
<br /> Number of Share Number of Share Percentage Compound
<br /> Industry Employees (%) Employees (%) Change (%) Growth Rate(%)
<br /> Agriculture 15,900 7.6 14,800 6.5 -6.9 -1.2
<br /> Natural Resources, 200 0.1 200 0.1 0.0 0.0
<br /> Mining
<br /> Construction 13,500 6.4 13,700 6.0 1.5 0.2
<br /> Manufacturing 20,800 9.9 22,600 10.0 8.7 1.4
<br /> Wholesale Trade 7,200 3.4 10,400 4.6 44.4 6.3
<br /> Retail Trade 24,800 11.8 27,000 11.9 8.9 1.4
<br /> Transportation, 12,700 6.0 13,900 6.1 9.4 1.5
<br /> Warehousing and Utilities
<br /> SAC/371322/082330013(LEC_5.10_SOCIOECONOMICS.DOC) 5.10-7
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