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Fed Says Tech Demand Outstripping Supply in Boston, San Francisco

San Francisco skyline

A limited pool of qualified workers is spurring significant wage growth for some slots in the Bay Area.

Credit: Flavorwire

The U.S. Federal Reserve's recently released Beige Book states that demand for certain types of technology skills is outpacing supply in some markets, particularly Boston and San Francisco. For example, the report found that in New England, "there remains a shortage of skilled technical workers to fill high-end [information technology] and engineering jobs," and that despite a large pool of available workers, the skills mismatch prevents staffing firms from fully meeting client demand.

In addition, the Federal Reserve reported that demand in the Bay Area is forcing firms to compete for a limited pool of qualified workers, which is leading to significant wage growth in those positions.

One of the most in-demand skills is experience and expertise in building the Web infrastructure and applications that can handle millions of visitors, says HireMinds' Sean McLoughlin. Recruiters also cited a demand for programmers skilled in Java, Ruby on Rails, and Python.

Large technology firms, such as Twitter, have created a lot of competition, forcing salaries up, and 10 to 15 percent increases are now the norm, says ICI Software Recruitment founder David Freier.

From Computerworld
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