Jobs in San Francisco’s – Looking Beyond the Tech Industry

Over and above the innovation boom that has been supporting jobs in San Francisco; the non-tech companies of the city have also grown to become a tremendous contribution in the city’s labor recovery initiatives. 

Today, about 75% of the city’s economical progress relies on the positions that have been created in sectors such as hospitality, construction and retail. This has resulted in San Francisco being labeled as the city with the fastest rate of job growth in all of America. 

The reduction of its unemployment rate to 6.5% that is significantly below the national average is testimony to the economical impact of San Francisco Jobs. 

Setting an Example for the Nation 

The city has been able to set an example for other technology centers around the United States. It has been noticed that for every new technology job that is created within a city; there are five additional jobs that are created in other sectors. This eases concerns for cities such as Boston and Seattle, where they are afraid that enhanced innovation would result in job generation only for the highly-skilled personnel, leaving behind the others. 

Understanding the New Job Market 

If you look at the big picture, you will realize that even though the IT industry cannot offer jobs to unskilled workers without relevant education, but with every software engineer with increased purchasing powers, they will indirectly support many more manufacturing and service jobs within any region. 

Statistics show that the multiplier effect has an especially high impact on Tech jobs in San Francisco.

Manufacturing versus Technology 

While the country had to face a contraction in the growth of the manufacturing sector between 2007 and 2009, the largest of the companies in the technology sector of the country were not able to sustain the job market. 

Consequently, with the economy at the cusp of stability, experts across the nation advocate the power of start-ups as a route to generate more jobs. With an aim to create a society where not only are the highly skilled doing a high paying and high value added work, but even the masses are able to find employment; employers, lawmakers and governments are exploring ways to boost the manufacturing sectors.