Intended as a report to inform the wider regional planning effort called Horizon being undertaken by the Association of Bay Area Governments (ABAG) and Metropolitan Transportation Commission (MTC), a new perspective paper explores the future of jobs in the region.
The Horizon Perspective Paper, "The Future of Jobs," explores how emerging economic changes might affect the region's economy in coming decades. Specifically, it delves into four interrelated facets of change related to the future of jobs: technological, organizational, salary and location changes.
While productive and diverse, the regional economy is also quite volatile, creating significant strains on housing and infrastructure, especially during economic booms. The paper concludes with a list of strategies to move the Bay Area forward.
- Reviews key trends affecting the regional labor market and job prospects of Bay Area residents, including automation of jobs, the emergence of the "gig economy" and an aging labor force.
- Considers impacts on jobs, wages, location dynamics and job sorting within the region.
- Identifies strategies on the state, regional and local levels to address planning and economic development challenges associated with a changing regional economy.