February 27, 2019 | Xconomy.com
A tech hiring slowdown in 2018 in America’s three largest innovation hubs would not have surprised John Barrett, given global economic uncertainty stemming from factors such as trade disputes, slower economic growth in China and Europe, and the UK’s looming exit from the EU.
Instead, the pace of tech hiring in the San Francisco Bay Area, New York, and Boston remained “pleasantly, surprisingly strong” last year, according to the latest quarterly analysis by Barrett, a Boston-area partner with executive recruiting firm ON Partners.
“We do see more [hiring] caution outside of tech, in the other sectors we recruit in,” which include manufacturing, life sciences, and private equity, Barrett says. “Inside tech, it’s not irrational exuberance. It’s not extreme enthusiasm. But it’s certainly equally strong [hiring compared] to the past couple of prior years.”
The Digital Jobs Index spearheaded by Barrett tracks quarterly headcount growth among the leading 100 software companies—primarily in consumer Web, small business software, advertising and marketing tech, and payments—in each of the three metropolitan areas. The report also tracks the percentage of those top-100 companies that increased their local headcount during the quarter. The criteria for inclusion in the analysis include a company’s number of local employees, employment growth, and a subjective assessment of its importance to the local tech cluster, ON Partners says.
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Resources: Q4 2018 Digital Jobs Index
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