Tuesday, Sep 03 2019

There are More Jobs in the Bay Area Than Ever

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There are More Jobs in the Bay Area Than Ever

The Bay Area is known as a major technology center, and it continues to be part of a major tech boom. Tech employment in the region continues to grow rapidly, far outpacing other sectors and reaching record highs, even when compared to the dot-com era. Additionally, the San Francisco-San Mateo area is grabbing a bigger piece of the technology pie thanks to the unprecedented surge.

Technology is considered to be at the core of the Bay Area’s broader success, partially due to the vast amount of income that is generated by the sector. However, that isn’t the only industry that is expanding. Others have also seen substantial growth over the years.

Here’s a closer look at the Bay Area’s tech job growth, as well as other industries that are trending upward.

 

Technology Job Increases in the Bay Area

Based on data from the end of May, there are approximately 835,600 technology positions throughout the Bay Area. That number is 116,900 jobs higher than during the dot-com peak in December 2000, when only 718,700 tech roles were present.

Overall, that is a 16.3 percent increase in comparison to the heyday of the dot-com era. This growth highlights the Bay Area’s resilience, even during challenging times. The dot-com bust, 9/11 terrorist attacks, 2008 financial crisis, housing bubble bursting, and the recession were all devasting periods. However, the Bay Area has been able to flourish, largely because of the continuing expansion in the tech sector and its ability to creating long-term job growth.

While the Bay Area did experience hardships during some of those times, it came back stronger. During the dot-com bust, the job market shrank by 14.9 percent. However, many of those companies weren’t built on strong foundations. Instead, they were riding an unsustainable digital wave, often relying on the idea that all a business needed to succeed was a website.

Today’s Bay Area tech companies aren’t the same. They have strong customer bases, well-developed business models, and high sales numbers based on providing buyers with real value.

After the recession’s low point in 2009 and through 2019, the Bay Area tech industry expanded by an astounding 57 percent.

 

Bay Area Job Market Growth

While the Bay Area’s tech sector is responsible for a substantial amount of growth, it isn’t the only industry seeing gains. Overall, between December 2000 and May 2019, the overall Bay Area job market has expanded by 13.1 percent.

This change shows that the region has more to offer than just opportunities in technology. Plus, between 2009 and 2019, the job market expanded by 29.8 percent, showcasing substantial growth since the trough during the last recession.

 

Learn More About Opportunities in the Bay Region

Ultimately, the Bay Area has more jobs than ever before, especially in the tech sector. If you’d like to learn more about opportunities in the region, the staff at The Armada Group can help. Contact usto speak with one of our experienced recruiters today and see how our services can make it easier than ever to take your career to the next level.