Business is Booming in the Tech Industry
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The tech industry is booming and currently undergoing its largest hiring "binge" since 1999 as a result. The competition is fierce, but not among job-seekers. Employers in the tech field are competing against each other in order to entice the best of the best. Companies recruit with promises of huge signing bonuses, iPads, free meals, sporting event tickets and a multitude other company perks.
Experts in the engineering, social media, website development, product design and management fields of have become valuable commodities. According to USA Today, around 150,000 tech jobs are likely to be added this year. These additions will help tackle unemployment numbers and boost the economy. The tech jobs market is particularly big in the San Francisco Bay area as well as Silicon Valley.
The jump in tech hires highlights what some economists see as a bounce-back in the $805 billion U.S. tech industry that could eventually make a dent in the national unemployment rate of 8.8%. “The majority of the lost jobs in California were in construction and manufacturing, so gains in tech may help,” says Doug Henton, CEO of market researcher Collaborative Economics. “The one sector where there is some hope is in construction in clean tech.”
Folks are coming out of nuclear winter into the spring,” says Mark Hubbell, managing director at executive recruiting firm Vantage Partners, which has placed upper management at Yahoo and start-ups, including Zynga. “If you are highly talented and risk averse, a major brand (Facebook, Twitter, Zynga) is where you end up,” Hubbell says. “If you’re talented and not risk averse, you start your own company.”
Read more on USA Today.