Bay Area Tech Job Growth Has Rapidly Decelerated

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.


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