Tech job growth has rapidly decelerated

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.

Oracle is eliminating the largest chunk of jobs in the first quarter: 441 in Santa Clara. The nine other firms with the largest first-quarter layoffs are: Visa, 213 jobs in Foster City; NetApp, 160 jobs in Sunnyvale; Theranos, 150 jobs in Palo Alto and Newark; Marvell Semiconductor, 139 jobs in Santa Clara; SunPower, 116 jobs in San Jose and Richmond; Violin Memory, 106 jobs in Santa Clara; Google, 94 jobs in Mountain View; Pandora Media, 91 jobs in Oakland; and AOL, 80 jobs in San Jose.

Tech companies employed 779,300 people Bay Area-wide at the end of 2016, or 20 percent of all payroll jobs in the nine-county region.

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Demand for housing has declined accordingly for sure but still higher than supply from the fast take up rate of houses so far. English might be hard to understand, allow me to use some fictitious figures.

Year Number of people look for houses Number of houses available for sale
2014 … 10, 000 … … 1,000
2015 … 9,000 … 900
2016… 8,000 … 800
2017… 7,000 … 850

Demand supply equilibrium is not reached yet.

Figures are fictitious, perhaps a realtor in this forum can provide some real figures.

Demand is increasing at a slower rate, but supply is so little that price is still high, and may continue to get higher. I get what you mean. Market is supply constrained.

Keep an eye on new listings coming online in the next few weeks. Starting in March we will be in prime selling season. It should tell us where market is headed.

Smallest inventory ever…No sfhs being built. .Multi family supply growth is levelling off…Everything depends on the unemployment rate…still going down…

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SF inventory is going up.

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And also H1b lottery will start on April 1st…We might see new h1b reform bill on March first week ?. Very interesting spring season coming up.

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With Trump all week days - Monday - Friday - is fun. He is coming with new EO, people are guessing coming Monday, on seven country ban !

SF inventory is about the condo glut…Is anyone on this forum going to buy a new condo in SF???

More than condo. SFH inventory also up more than 20% yoy in SF.

What is it…150 houses in a market that could handle 1500?
http://www.zillow.com/homes/13271_rid/40.137992,-74.955763,39.867004,-75.280302_rect/1_fs/0_rs/0_fr/1_z/1_mmm/any_days/house_type/pf,pmf_pt/days_sort/

Philadelphia has over 1300 houses for sale. With a population of 1.5m…

SAN Diego has a similar amount listed with a population of 1.3m

This one looks good…
http://www.zillow.com/homedetails/8459-Mathis-Pl-San-Diego-CA-92127/111435964_zpid/

Now you need <50 people to build a business with billions. It’s great for VC firms but not great for tech workers. I bet there’s more government workers than tech workers in the Bay Area.

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It only means the top guys would get higher pay while the average guys would be out of a job.
As for RE, so long inventory is low and many startups compensating the effect of reduced employees per company, price won’t buckle.

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Could be true but… The small (compare to billions of consumers) number of computer programmers earn a little less but billions of consumers benefits.

Interesting. My husband’s work is very dependent on startups and tech. Last year slowed down a bit. This year they are expecting continued slowing so I’m not too surprised.

Not a good sign. But I think other than startups, tech is doing well. Startups hurt, SF is hurting. Big tech companies doing well, good for South Bay and peninsula.

Maybe or it could mean this boom is about to meet its bust. Time will tell.

It def slows down. But with the coming tax cut and deregulation, we may need to wait and see.

Sure. If congress pushes those through, it could drag out the boom for longer. But, deregulation will make the bust worse.

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