IRVINE, CA—Access to skilled labor is a fundamental need for scaling tech companies, so with Orange County's 3.3% unemployment rate, you could say the increase in STEM graduates is filling a much-needed gap, JLL VP Scott Wetzel tells GlobeSt.com. According to a recent report from the firm, 862,800 people 25 or older in the Orange County workforce hold a bachelor's degree or higher as of 2016; in 2011, that number was 736,347.
The report also showed that 211,704 people 25 or older in the Orange County workforce have degrees in a STEM-related field; five years ago, that number was 185,847. In addition, the average wage for computer and math occupations in Orange County has risen from $84,540 in 2011 to $94,780, and the average wage for all occupations in OC has risen from $50,960 in 2011 to $55,890. Meanwhile, the average wage for computer and math occupations in the US has risen from $78,730 in 2011 to $87,880, and the average wage for all occupations in the US has risen from $45,230 in 2011 to $49,630.
We spoke with Wetzel about the increase in STEM graduates and wages and how it translates to the real estate market.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
