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Old 03-27-2011, 03:09 PM
 
Location: AK, CA, FL, WA, AUS
7,928 posts, read 6,281,450 times
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I know everyone is complaining about how horrible the job market is in San Francisco, but look at these numbers!

S.F. tech jobs climb near level of dot-com peak
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Old 03-27-2011, 03:46 PM
 
Location: Zurich, Switzerland/ Piedmont, CA
25,749 posts, read 35,058,839 times
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Interesting and to be honest it makes sense. There's been a wave of tech companies in the city proper making headlines, which is very cool.
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Old 03-27-2011, 06:11 PM
 
31 posts, read 60,114 times
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How about accounting?
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Old 03-27-2011, 07:41 PM
Status: "always biking!" (set 24 days ago)
 
Location: Oakland, CA
857 posts, read 1,512,281 times
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That's great news! I just don't understand the unemployement rate in SF being so high still when I see job growth everywhere.

I would like to see that kind of data in biotech sector. Mission Bay already has some of the big players like Bayer, Nektar, Celgene, Merck, and Pfizer is looking to open a branch here as well.

According to the bottom article, 2004 has only one company as opposed to 56 currently.

The Mission Bay Biotech Cluster: Antibodies, RNAi, Biofuels, & More | Xconomy
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Old 03-27-2011, 09:36 PM
 
Location: South Korea
5,245 posts, read 7,443,945 times
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From what I've read in the past, biotech hardly ever makes any money, not sure if that's still true or not.

As for tech in SF, it creates a lot less jobs compared with other industries. You have a relatively small number of people making a fair bit of money, but they don't require any office support staff and don't depend on outside support vendors. A normal office like an investment bank or a law firm is top-heavy with highly paid talent, but they also need a lot of support staff like secretaries, clerks, paralegals, etc, and pay outside support for things like copying and so on. A tech firm just needs an office, a bunch of nerds and an internet connection.

It's a start and it's better than nothing, but it's not going to affect the unemployment rate very much and is going to make SF into even more of an exclusive yuppie paradise.
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Old 03-27-2011, 10:24 PM
 
Location: San Jose, CA
8,475 posts, read 7,702,445 times
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Quote:
Originally Posted by mayorhaggar View Post
a bunch of nerds

Right!
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Old 03-27-2011, 10:33 PM
 
Location: surrounded by reality
429 posts, read 541,147 times
Reputation: 446
Quote:
Originally Posted by mayorhaggar View Post
From what I've read in the past, biotech hardly ever makes any money, not sure if that's still true or not.

As for tech in SF, it creates a lot less jobs compared with other industries. You have a relatively small number of people making a fair bit of money, but they don't require any office support staff and don't depend on outside support vendors. A normal office like an investment bank or a law firm is top-heavy with highly paid talent, but they also need a lot of support staff like secretaries, clerks, paralegals, etc, and pay outside support for things like copying and so on. A tech firm just needs an office, a bunch of nerds and an internet connection.

It's a start and it's better than nothing, but it's not going to affect the unemployment rate very much and is going to make SF into even more of an exclusive yuppie paradise.
Wait a minute, so if a firm (tech or otherwise) doesn't directly provide mid-level or lower-paying jobs it does not affect unemployment? Where would these geeks with an internet connection eat, sleep, take their kids to school or buy their t-shirts? Do any of these places provide mid-level jobs?
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Old 03-28-2011, 12:22 AM
 
Location: South Korea
5,245 posts, read 7,443,945 times
Reputation: 2857
It affects unemployment in terms of all the recent grads from Stanford's computer sci program getting high-paying jobs, but again it doesn't create a lot of middle class jobs down the line like just about every other industry.

A local economy totally centered around tech would be horribly diversified and vulnerable. Nobody here seems particularly concerned with creating middle class jobs in the Bay Area though, but everyone always drools over anything the tech industry does when they don't create enough jobs to support the local economy.
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Old 03-28-2011, 08:39 AM
 
Location: surrounded by reality
429 posts, read 541,147 times
Reputation: 446
While I share your concern about the lack of focus on the middle class jobs and "drooling over anything the tech industry does", I don't see the growth of tech jobs in the city as a bad or even a neutral thing. I'd much rather see those jobs here than in Boston, Beijing or Bangalore.
Moreover, at 5-6% of total employment, there is hardly a threat for the city economy of becoming overly dependent on the tech jobs.
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Old 03-28-2011, 10:00 AM
 
1,573 posts, read 2,062,297 times
Reputation: 1031
Quote:
Originally Posted by ubringliten View Post
That's great news! I just don't understand the unemployement rate in SF being so high still when I see job growth everywhere.

I would like to see that kind of data in biotech sector. Mission Bay already has some of the big players like Bayer, Nektar, Celgene, Merck, and Pfizer is looking to open a branch here as well.

According to the bottom article, 2004 has only one company as opposed to 56 currently.

The Mission Bay Biotech Cluster: Antibodies, RNAi, Biofuels, & More | Xconomy
The Mission Bay biotech cluster is doing well but not anywhere as good as the tech sectors. Most biotechs in Mission bay are really small, early-stage startups with anywhere between 2-10 employees. So the numbers are smaller than tech for sure!

But UCSF is constantly expanding in Mission bay and keeps bringing in more and more research money everywhere which creates a lot of jobs but usually not high paid jobs.
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