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NRC Equity Fund 1 <br /> 12.0 SAN JOAQUIN COUNTY ECONOMIC PROFILE <br /> From 2008 to 2013, the population of San Joaquin County increased by 0.4 percent per <br /> year. This was largely due to net migration; an average of 870 net migrants entered the <br /> county each year, representing 88 percent of total employment growth. Net migration will <br /> continue to account for the majority of all population growth, as an older resident base <br /> leads to a low birth rate. Many in-migrants will settle in the north county, especially the <br /> San Joaquin County area, where more housing will be built. <br /> FORECAST HIGHLIGHTS <br /> • In 2014, total wage and salary employment is expected to increase by 2.7 percent. <br /> From 2014 to 2019, growth will average 2.0 percent per year. <br /> • The average salary is currently well below the California state average, and will <br /> remain so over the forecast period. In San Joaquin County, inflation-adjusted <br /> salaries are expected to rise by 0.9 percent per year between 2014 and 2019. <br /> • Between 2014 and 2019, the strongest employment growth will be observed in <br /> wholesale and retail trade (+5,100 jobs), healthcare and education (+4,200 jobs), <br /> professional and business services (+3,700 jobs), and transportation and utilities <br /> (+2,200 jobs). These sectors will account for 66 percent of net job creation in the <br /> county. <br /> • Real income per capita is expected to rise by three percent in 2014. Over the entire <br /> 2014-2019 period, real income per capita is forecast to increase by an average of 2.2 <br /> percent per year. <br /> • Annual population growth in the 2014-2019 period will average one percent per <br /> year. <br /> • Net migration will increase over the next five years. From 2014 to 2019, an average <br /> of 1,400 net migrants will enter the county each year. <br /> • Total taxable sales, adjusted for inflation, are expected to increase by an average of <br /> w.o�e Population Growth Mb Now ResfdeMbi Unhs <br /> a'"�" s99o.ims P--M IM-2= <br /> a: .. ,.-- --... _ aero -- ---- -- - -- --------------,� <br /> 10x1 .. <br /> >.Dro <br /> 0.70 <br /> 1990 'A5 21015 X:0 7015 X0 NIS 1190 1 2'0 :010 Y!5 2T0 YL'S :XO ns <br /> 4.7 percent per year between 2014 and 2019. <br /> Page 51 1 54 <br />