Tech Only Accounts For 8 Percent Of San Francisco Private Jobs
SAN FRANCISCO (KCBS)— Does everyone around here work for Twitter, LinkedIn and Yelp? Despite all those headlines about the surge in technology jobs in San Francisco, the tech sector still makes up only a tiny percentage of the city's private jobs.
According to a new study of the city's workforce from the City Controller's office, the chief economist reports tech only accounts for about eight percent of the city's private jobs.
Tech workers have gotten a bad rap for driving up rents and home prices taking over Mid-Market and South of Market and the Mission, but Chris Thornberg with Beacon Economics said most people work in the service industry— regular old, not very headline-grabbing jobs.
Report Says Tech Only Accounts For 8 Percent Of SF Jobs
"The reality of the situation is most jobs—and candidly most job creation is not in these kinds of hot sectors of the economy, these kinds of sexy sectors if you will, that everybody's focusing on. The vast majority of jobs are in the kinds of jobs that just service your local population on a day-to-day basis," said Thornberg.
Internet and computer jobs are growing rapidly in San Francisco, at about 12 percent a year and the tech sector is creating about 21 percent of all new jobs in the City, but still of the almost 500,000 private jobs in San Francisco, fewer than 40,000 are in high tech.
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