“We feel like if we don’t break records every year, there is something wrong.” That observation by Russell Hancock, president and CEO of Joint Venture, neatly sums up the prevailing Silicon Valley perspective on last year’s job growth. From Hancock’s point of view, 2016’s final numbers displayed the Valley’s strength even if they didn’t set records. ¶ Hancock heads up the high-tech industry advocacy organization that keeps tabs on new jobs—45,621 last year down from 60,000 in 2015. That decrease, as they say, is a good problem to have. For the seventh consecutive year, the world’s biggest hub of high-tech year-over-year managed a growth rate of 3 percent or more. The region has generated 297,000 new jobs since the recovery began in 2010. Tech companies—not surprisingly in Silicon Valley—saw a 5.2 percent increase in jobs last year, led by the biotech, internet and computer design sectors. That contrasts with the city and county of San Francisco, which added about 26,000 new jobs last year. June/July 2017 53 T H A N N U A L B U S I N E S S R E V I E W VALLEY’S
South Bay Accent - June/July 2017
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