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San Jose and Oakland area job markets tumble
11–20 of 114 posts
Re: San Jose and Oakland area job markets tumble
#12Re: San Jose and Oakland area job markets tumble
#13You need to read the whole article to get to the statement: “Unemployment rates throughout the Bay Area are among the lowest in the state. Almost anywhere else in the country, the Bay Area’s job trends would be the envy of that region.” Every downturn has to start somewhere, and maybe this is the beginning of a bad stretch, but the largest employers are doing fine based on stock prices. Apple, Alphabet, Cisco, Facebo…
Where would a typical SV "startup" fall under the categories in that link, "Computer Systems Design & Related Services"?
Re: San Jose and Oakland area job markets tumble
#14So it isn't just me. Has anyone else in the east bay had a tough time finding work recently as a mid level front end developer?
Re: San Jose and Oakland area job markets tumble
#15> “Right now it’s tough to find a job in I.T.,” said Steve Satariano, a San Jose resident who has been working in contracted, temporary information technology jobs in recent years. “I’d prefer to find a full-time, permanent job, but in I.T., beggars can’t be choosers. It’s a little frustrating because tech companies always want to try before they buy.”
The numbers don't really back the first part of the statement up...
There are +3000 more I.T. jobs from 2016->2017 and I.T. only lost -500 jobs since last month, but that is a single month while the numbers are still higher than last year (down 0.7% monthly but up 4.1% overall yearly).
And "Computer Systems Design & Related Services" also grew 3.7% year over year with 0% loss in the last month.
The news is always looking for the negative 'sky is falling' angles and they will always be able to find someone to provide a sound bites to back up the story. But as usual the numbers say otherwise or are simply neutral/boring.
Some people are obsessed with being the first one to call the new demise of tech, or the latest bubble. But if anything the industry has become more resilient. Which is what happens when industries mature and grow larger. With more diversity and a larger base of employers/employees then fluctuations are naturally going to be smaller and better contained. That plus greater domain expertise develops over time - companies/investors learn how to manage risk better and understand the nature of the marketplace so overall losses are smaller.
Re: San Jose and Oakland area job markets tumble
#16> Some experts suggested the Bay Area’s slump in venture capital funding has contributed to the sluggish job trends in the region’s tech sector.
Can safely ignore bubbles created by VC funding cash-flow injection and focus on business that bootstrap in a healthy way.
Re: San Jose and Oakland area job markets tumble
#17These are likely seasonal job losses like retail or related. You have to do Year over Year comparisons for jobs. Month over month comparisons are misleading because of seasonality
From the article: the worst two-month stretch of job losses since the Great Recession.
Re: San Jose and Oakland area job markets tumble
#18I wonder how much of this is non-programming jobs going away. I think sysadmin jobs are going away, and those aren't coming back.
Re: San Jose and Oakland area job markets tumble
#19> “Right now it’s tough to find a job in I.T.,” said Steve Satariano, a San Jose resident who has been working in contracted, temporary information technology jobs in recent years. “I’d prefer to find a full-time, permanent job, but in I.T., beggars can’t be choosers. It’s a little frustrating because tech companies always want to try before they buy.” The numbers don't really back the first part of the statement up.…
Correct - if tech is still getting H1B visas, that means there are jobs that the companies claim were unable to be filled by US citizens. They have to go so far as to post two conspicuous notices of the application for visas in their workplaces [1].
https://www.dol.gov/whd/regs/compliance/FactSheet62/whdfs62M...
Re: San Jose and Oakland area job markets tumble
#20> Some experts suggested the Bay Area’s slump in venture capital funding has contributed to the sluggish job trends in the region’s tech sector. Can safely ignore bubbles created by VC funding cash-flow injection and focus on business that bootstrap in a healthy way.
"During 2016, the VC sector provided $24.9 billion in financing, down 27.6 percent from the $34.4 billion in venture investing in 2015, according to the MoneyTree Report by PricewaterhouseCoopers and CB Insights."
$10B and 28% are hard to ignore.