Bay Area Tech Job Growth Has Rapidly Decelerated (mercurynews.com)

An anonymous reader shares a MercuryNews report: Job growth in the tech industry used to zoom like a race car, but these days, hiring by this principal driver of the Bay Area's economy chugs along more like a family SUV. The technology industry's job growth in the nine-county region has dramatically decelerated, according to this newspaper's analysis of figures released by state labor officials and Beacon Economics. Tech's annual job growth throttled back to 3.5 percent, or 26,700 new jobs, in 2016. That's much slower than the 6 percent annual gain of 42,300 jobs in 2015, or the 6.4 percent gain in 2014. And while the industry's 3.5 percent growth last year is still a sturdy annual pace, Bay Area technology companies have already disclosed plans to slash about 2,000 jobs in the first three months of 2017.

Comments

Re:The internet is a thing

[Salgak1]

Add to that, get asked to move to the Bay Area, and not get offered a pay raise. OR Relocation.

A former colleague of mine got offered a job as a subcontractor at Apple. She sold her 4-BR house, and most of the furniture, and gave her dog away. . . for enough money to rent a BEDROOM. . . .

Pass. . .

What are locals saying?

[randomErr]

I read through the comments local people are saying:

• * Lay-off / Buy Out older workers to hire lower pay college graduates
• * Hiring H1B Workers
• * Redundant technology with smaller similar companies merging into larger companies - Social Networks, photo, video. and texting applications and websites
• * Off-shoring jobs

Re:LinkedIn can't be wrong...

[nickovs]

The two facts are not at necessarily odds with each other. The reporting is on the number of people employed; LinkedIn tells you the number of open vacancies. The problem is that with the housing capacity tapped out and the cost of living through the roof it is becoming increasingly hard to fill the jobs that exist, so hiring is slowing down. Cities in the Bay Area from San Mateo to Sunnyvale have been building office space faster than they have been building homes and is this is the result.