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• The City of Elk River completed an analysis of local industrial firms and found that the largest <br /> employment by industry was in the industrial machinery sector at 28%. Fabricated metal and <br /> electronic equipment were also large employers at 22% each. <br /> Table 6 <br /> Sherburne County <br /> Covered Employment by Industry <br /> 1990 1995 1999 1990-1999 1995-1999 <br /> # % # <br /> Construction 551 820 1,314 763 138.5% 494 60.2% <br /> Manufacturing 1,442 2,452 2,848 1,406 97.5% 396 16.2% <br /> Transportation and Public Utilities 1,296 1,579 1,561 265 20.4% -18 -1.1% <br /> Trade 2,539 3,708 4,919 2,380 93.7% 1,211 32.7% <br /> Finance, Insurance and Real Estate 256 383 566 310 121.1% 183 47.8% <br /> Services 1,663 2,476 3,179 1,516 91.2% 703 28.4% <br /> Government 1,892 2,631 3,096 1,204 63.6% 465 17.7% <br /> Total 9,639 14,049 17,483 7,844 81.4% 3,434 24.4% <br /> • Source: Minnesota Department of Economic Security <br /> Covered employment data is not only available for the number of jobs by sector,but also the <br /> average weekly wages for those sectors. The following graph includes three major components: <br /> the average annual wage by sector, the average cost of a two-bedroom apartment in Elk River, <br /> and the cost of a$150,000 home. This chart illustrates the gap that can be found in some sectors <br /> between the wages that are earned and what households can afford for both rental and <br /> homeownership. <br /> The largest housing gap is founa in the Trade and Services Sector. On average, if a single-earner <br /> household were working in eith-r of these sectors they would have a difficult time affording the <br /> average two-bedroom apartmen . Homeownership for people employed in these sectors is nearly <br /> impossible unless they have a d al income household. The Finance, Insurance and Real Estate <br /> (FIRE) sector also had a small ,tap between wages and the average rents. <br /> Most sectors do not have an av:rage wage sufficient to purchase a $150,000 home. The only <br /> sector with an average wage hith enough to afford a$150,000 home are those in the <br /> Transportation and Public Utili pies (TPU) sector. <br /> • <br />