New York outpaces SF tech job growth, study finds
Tech jobs in New York are up 32% in the last decade, according to a new report from Tech:NYC shared first with Semafor, more than twice the rate in the Bay Area.
Despite Silicon Valley being hailed as the inseparable hub of technological innovation, a recent study has revealed that New York's tech sector is expanding at a swifter pace compared to its Bay Area counterpart. According to a report by Tech:NYC, the city's tech jobs have surged by 32% over the past decade, outpacing the Bay Area's growth rate by more than double.
Julie Samuels, president and CEO of Tech:NYC, highlighted how tech has become an intrinsic part of New York's economy: "Increasingly, tech is just woven into everything about the city’s economy."
The tangible evidence of this transformation is evident on New York's subway rides, where ads from tech startups promoting AI tools for banks, law firms, and insurers have proliferated. New York's tech landscape has witnessed the opening of Thinking Machines Lab and Cohere's first New York offices this year, alongside Anthropic's lease of a 16-story Hudson Square building.
While software developers still form the largest segment of tech jobs in non-tech companies, this growth underscores the enduring need for engineers and the challenges in seamlessly integrating artificial intelligence into our daily lives.
New York's tech workforce stands at 452,000 jobs, significantly smaller than the Bay Area's 804,000. However, the city's diversified economy provides a buffer against the cyclical boom-and-bust tendencies that have plagued Silicon Valley. While San Francisco's tech discourse is predominantly centered around AI safety and the inherent risks, New York's conversation revolves more around the implementation of technology - who is utilizing it, who is paying for it, and how it's reshaping businesses.
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
