According to a new report, the New York City job market is getting a boost from the technology sector. The report, “Building a Digital City: The Growth and Impact of New York’s Tech/Information Sector,” takes an in-depth look at the growth of the city’s technology sector.
Since 2007, there has been 11 percent growth resulting in 262,000 jobs in the tech/information sector. From 2007 to 2012, there were 26,000 jobs added, resulting in $5.8 billion in jobs to the city’s economy. Since 2007, private-sector growth grew 4 percent. During the same period in other industries, private-sector payroll fell 3 percent.
“The surge in the tech sector here in New York has been remarkable to see and be a part of. What we see every day is that New York’s tech growth has been a boon to entrepreneurs in all five boroughs,” Chad Dickerson, CEO of Etsy, said.
The study also takes a look at San Francisco, concluding that New York City and San Francisco are among the best cities in the country for technology industry job growth and development.
The report was released by the Bloomberg Technology Summit. This year was the second year for the summit that gathers the top companies and leaders in the technology sector.