The U.S. technology worker population currently totals 4.8 million, with about 1 million employees added over the last five years, according to CBRE's 2016 Scoring Tech Talent report.
The San Francisco Bay Area was the biggest employer of tech labor, with a five-year growth rate of 61.5 percent and nearly 317,000 tech workers. CBRE also found all major U.S. cities experienced double-digit tech employment growth over the past five years.
Although Boston came in 10th on the list of top U.S. tech employment markets and had the smallest growth rate of 13 percent, it also exported the largest number of tech workers--about 17,225--to other markets.
CBRE research director Colin Yasukochi notes the Boston area is producing "more [tech] degrees than jobs." He says labor costs are the most overriding cost for tech firms, with the San Francisco Bay Area paying an average $31 million for 250 people, compared to Charlotte, NC's $23-million outlay for the same number of employees.
Yasukochi believes the smaller tech markets will benefit from rising labor costs in the larger markets, helped along by talent availability and significant investments in high-speed broadband networks.
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Abstracts Copyright © 2016 Information Inc., Bethesda, Maryland, USA
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