New York Tech Employment Outpaces Silicon Valley But Lags in Salaries
SAN LEANDRO, California, July 3, 2013 /PRNewswire/ –
- NY tech employment outpaces Silicon Valley since March 2013 - NY tech workers trend more female and younger than in CA - Georgia tech companies see 3.74% creation bolstered by VC funding
, a detailed analysis of trends in key human
capital economic indicators for small businesses, reports employment in the New York tech
sector received a 2.5% bump in June as the state continues to challenge San Francisco as a
tech hub and start-up incubator. Net job growth in New York tech has outpaced Silicon
Valley consistently since March.
Tweet This [http://clicktotweet.com/8b2qS ]: TriNet SMBeat report shows New York
outpacing Silicon Valley in tech hiring but not salaries. http://bit.ly/13jIlZa
US tech sector job growth. Source: TriNet SMBeat Month NY CA National March 2.40% 0.30% 0.70% April 2.10% 2.30% 2.10% May 0.90% 0.80% 1.00% June 2.50% 1.30% 1.40%
While New York beats California in employment growth, the same does not hold for
salaries. The average salary for the NY tech sector is $94,000 compared to $120,000
nationally and $143,000 in California. Likely factors to the salary differential are
highlighted in TriNet SMBeat data which shows NY tech workers trend younger and more
female than the CA tech population.
Silicon Valley and New York aren’t the only hubs for innovation; the future looks
bright for the Georgia tech sector as the state works to provide $100 million in venture
capital funding to startups over the next few years. The state’s efforts to court
technology companies and entrepreneurs are paying off with hiring activity at 5.89% for
the month. Additionally, strong job creation showed net growth at 3.74% in June,
significantly outpacing Silicon Valley’s growth of 1.31%.
The complete SMBeat report is available here
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SMBeat provides a detailed analysis and a predictive forecast for trends in key human
capital economic indicators for small businesses. All reported statistics are seasonally
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-------------------------------------------------- 1. The SMBeat has adjusted the monthly reporting cycle to end on the 12th of the month, to mirror the methodology of the US Bureau of Labor Statistics. Media Contact: Jock Breitwieser TriNet Jock.Breitwieser@TriNet.com +1(510)875-7250
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