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<br />expected gains of 38,400 jobs, with 17,300 projected to be in ambulatory health care services.
<br />Professional and business services is projected to add 28,200. Leisure and hospitality is projected
<br />to grow by 12.9%, adding 27,400 jobs. Construction is projected to add 19,000 with 13,700 of the
<br />jobs in the specialty trades subsector.R
<br />The top five fastest -growing industry sectors are construction (19.5%), health care and social
<br />assistance (18.9%), leisure and hospitality (12.9%), information (11%), and professional and
<br />business services (9.5%). 9
<br />The industry sectors that added the most jobs between 2017 and 2020 are represented in the
<br />chart below.
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<br />.�„ndHitldpaf mn orlvdaif l aIY lvpalY lvpalY lvpalY lvpalY lvpalY lvpalY lvpalY lvpalY lvpalY lvpalY lvpalY lvpalY lvpalY lvpalY lvpalY
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<br />62
<br />Reallh care and 3oclal A6sislarlce
<br />19f,,2s0
<br />209,045
<br />12.755
<br />56
<br />Administrative and Support and Waste Management and
<br />15:3,58:1
<br />169,619
<br />4,099
<br />Remedialion Services
<br />54
<br />Professional, Scientific, and Technical Services
<br />151,234
<br />166,909
<br />5,674
<br />S.`.
<br />Management of CumpanleS and Lnterprines
<br />33,32U
<br />3(,!13:
<br />4,61E
<br />l3
<br />Cunslmu limn
<br />191,841
<br />19)n,428
<br />3,b31
<br />SourceEMSI Labor Market Analytics, 2021
<br />Orange County is a thriving hub for medical device companies and cutting -edge industry sectors,
<br />including life sciences, information technology, digital arts and media, and advanced
<br />manufacturing. It is also known for its growing ecosystem of entrepreneurship and innovation.
<br />Many Southern California startups work on virtual and augmented reality, cybersecurity,
<br />biomedical science, bioengineering, medical imaging, medical device, and environmental health
<br />technologies. Over the next several years, Orange County is poised to be at the center of
<br />emergent industries based on educational and intellectual assets in the region. The county's most
<br />robust traded clusters with a high employment specialization in the area are medical device
<br />manutacturing (US Ranking 1), lighting and electrical equipment manufacturing (US Ranking 2),
<br />apparel manufacturing (US Ranking 3), information technology and analytical instruments
<br />manufacturing (US Ranking S), and financial services (US Ranking 6).10
<br />2Ai. Provide an analysis of current employment and unemployment data.
<br />Orange County had a positive economic outlook before the impacts of the COVID-19 pandemic.
<br />In January of 2020, Orange County had an unemployment rate of 2.9%, the lowest in Southern
<br />California. In the preceding 12 months, the county's unemployment rate had not exceeded 3.1%.
<br />Before California's first statewide stay-at-home order issued in March, closing all nonessential
<br />businesses and restaurant dining, the unemployment rate stood at 2.8%in February of 2020. The
<br />economic disruption from COVID-19 resulted in steep job losses, with the unemployment rate
<br />quadrupling at its peak of 14.7% in May 2020, the highest unemployment rate ever recorded for
<br />° Labor Market Informmtfon, bllD, 2021, www.labormarketmfo.edd.ca.gov
<br />'Lobar Markel lnfummfiuri, EDD, 2021, www.Iabur inarkelinfo.edd.ce gov
<br />10 "L1.5. Cluster Mapping: Ma ntring a Nation of Regional Clusters." U.S. Cluster Mapping I Mapping a Nation nJ Reginnal Clusters,
<br />www.c. ustennapping.us/.
<br />City Council 24 — 7 4/6/2021
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