The Bay Area’s technology growth is so strong that it has reached record highs and has soared beyond the lofty pinnacles of the dot-com era nearly 20 years ago, state labor statistics show.
On the end of April, the Bay Area boasted 831,700 technology jobs — 113,000 higher than the dot-com peak of 718,700, which was achieved in December 2000, according to an analysis by this news organization that was based on statistics culled from state Employment Development Division data.
That latest tech business totals within the nine-county region as of April mark a 15.7 % increase within the variety of technology jobs in comparison with the dot-com heights. Over the equal interval of almost 19 years since December 2000, the overall Bay Area job market has posted a 12.8 % increase.
The trends over the 19 years present that the technology sector is one of the engines of the Bay Area economy.
But an analysis of the EDD reports shows that the tech sector is the traditional definition of a boom-and-bust industry.
But this time around, though financial downturns are inevitable and a part of the enterprise cycle, the tech industry seems better suited to being a steady — and very important — a pillar of the Bay Area’s financial structure.
Vanished are evanescent names such as Webvan, Pets.com, and Boo.com, reminders of the “irrational exuberance” of the Internet bubble.
Of their places are stalwarts such as Google, Apple, Fb, LinkedIn, and Adobe. Plus, corporations similar to Amazon, eBay, Intel, Cisco, Utilized Supplies, and Lam Analysis found out not only how to survive the dot-com meltdown, however in some cases, to become dominant players.