Regional technology hubs outperform Silicon Valley/Bay Area
- Technology, construction and life sciences show biggest growth in net hiring
- Women in Boston and Silicon Valley have smallest salary gap compared to national average of 23%
A monthly analysis of small business employment and human capital economic indicators, shows a month-over-month net job growth in white-collar sectors, particularly technology. On the gender side, the report shows a closing of the female/male worker salary gap in some regions and job functions.
Key findings include:
- Technology hubs of Boston, New York and Atlanta achieved greater than 2% job creation, outpacing Silicon Valley at 1.12%. Key regional technology hubs have been outperforming Silicon Valley in net job growth since March 2013.
- Start up and technology firms are gravitating to regions outside Silicon Valley as a result of favorable changes in regulation, influx of VC funding and healthy ecosystems that foster tech growth such as a strong source of qualified professionals.
- Women are closing the female/male worker salary gap in some regions and job functions.
- Women tech-workers in Silicon Valley/Bay Area and Boston have lowest salary gap[ 1] compared to their male counterparts. The gap is 18.5%, compared to a national average of 23%.
- Women in executive positions in the Silicon Valley/Bay Area perform the best in female/male salary comparisons with a gap of just 3%.
- Women in software engineering positions in New York Area perform the best in female/male salary comparisons with a 9.1% gap
- There is positive growth across all industry verticals. The biggest growth in net hiring came from the technology (1.49%), construction (1.48%) and life sciences (1.01%) sectors.
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