Industry spotlight: San Francisco
The Golden State Warriors aren't the only organization in the Bay area to go on a recent hiring frenzy. Many industries in San Francisco are opening their doors to talented workers looking to live on the West Coast.
The Golden (Gate) Opportunity: Technology
San Francisco may best be known for its technology industry, which has continuously garnered top headlines over recent years. The simple fact of the matter is, even with its popularity, it still has a ravenous appetite for hiring.
According to a study by the real estate development firm CBRE group, over the last five years San Francisco has produced 90,000 more jobs than it has people in the area with qualified degrees in the field. This has resulted in a 61.5 percent growth rate in the sector over the same period of time.
The city seems to have a stranglehold on the top markets, as well. Currently, 143,000 software developers out of the 1.56 million in the U.S. are in the Bay area, and another 48,000 tech engineers out of the 573,000 occupation pool live there as well.
If you're looking for work in this field, it'd be far-fetched to look anywhere else. Besides the great weather and lifestyle, San Francisco offers up some of the world's most influential tech companies as potential suitors for the unemployed.
San Francisco's Giant Market: Professional and business services
This industry is California's bread and butter. According to Investopedia, employers in this sector account for 18 percent of all workforce participation and 13 percent of the state's GDP.
The Bureau of Labor Statistics reported a 3.6 percent year-over-year job growth rate in the Bay area. There are currently 476,000 workers in the field.
Hotel California: Leisure and hospitality
As California is a famous tourist and business leisure destination, it shouldn't come as a surprise that its leisure and hospitality industry is thriving. Investopedia reported it accounts for nearly 14 percent of the workforce and in San Francisco specifically, it's growing at a 4.1 percent clip, according to the BLS.
I left my heart in San Francisco: Health services and Education
This sector is growing across the United States and the Bay area is no exception. Investopedia pegged its occupation pool at 18 percent of total jobs in California, while the BLS has tracked it to account for 340,000 jobs in San Francisco alone.
The fusion of technology and healthcare has been big in this area. Job seekers specializing in the two will find endless opportunities as many businesses hope to bridge the technological gap in the industry.
"The San Francisco market is huge for Beacon Hill Pharma," says Ryan Pirnat, Managing Director of Beacon Hill's Pharma Division. "We do business with a number of companies across a spectrum – from Biotech and Pharmaceutical to Medical Device companies and everywhere in-between. The Bay Area is either number one or number two for us (along with Boston) for most R&D investment in our niche. We've grown over the years in the San Francisco area and it will continue to be one of our more vibrant growth markets."
Forbes reported that San Francisco ranks fifth in terms of job growth and education in the U.S., and 32 on its list of best places for business and careers. Its unemployment rate is a healthy 3.4 percent, according to the BLS, which shows that jobs are being fulfilled. If you're looking for a change of pace in life, there may be no better destination than the Bay area.
This is brought to you by the Marketing Team at Beacon Hill Staffing Group.