Austin and NYC tech job boom towns: report

Recent insights from Signalfire shed light on the dynamic changes in the tech workforce across different US metro areas from 2019 to 2023. These findings provide a glimpse into the rise of new tech hubs, the resilience of established ones, and the shift in tech talent distribution.

**Key Points and Significance**

1. **Austin's Rapid Growth**

   - Austin's tech sector experienced rapid growth, surpassing all other areas. VC-backed tech startups in Austin expanded their workforces by 23%, while major tech firms saw a 44% increase during the 2019-2023 period. Despite starting with 180,000 tech jobs, which constituted 14% of the local workforce, Austin's conducive environment enabled this significant growth rate.

2. **New York City's Attraction to Tech Workers Relocation**

   - New York City emerged as a magnet for relocating tech workers, winning the largest share in this movement. Meanwhile, the San Francisco Bay Area maintained its dominance in AI talent, underscoring its stronghold in the tech industry.

3. **Tech Landscape Overview**

   - Tech continues to dominate the San Jose and San Francisco metro area workforces, accounting for approximately 1 in 4 jobs, totaling 730,000 positions. In contrast, Austin's 180,000 tech jobs make up 14% of its workforce, allowing for easier achievement of higher growth rates compared to larger tech hubs.

4. **Evolution of VC-Backed Startups**

   - VC-backed tech startups are seeing a shift in founder demographics, with a notable increase in founders possessing 15 to 20 years of prior experience before commencing their ventures, as highlighted by Signalfire's data.

**Insights from Experts**

   - SignalFire's Heather Doshay and Asher Bantock emphasize that a significant portion of tech worker relocations are remote moves that may not align with traditional employer locations, signifying a broader shift in work dynamics.

These trends signify a transformative phase in the tech industry, showcasing the emergence of new tech hubs alongside established giants, and reflecting the evolving landscape and opportunities within the tech workforce ecosystem.  

Post a Comment

Previous Post Next Post