Photo: Spiros Vathis/Flickr
For certain economic sectors in San Francisco, the rate of job growth has been impressive. In a recent report from data aggregator Headlight Data, the City by the Bay ranks third for most improved private job growth rate and fifth for most improved job growth rate overall.
The data for the studies were culled from the US Bureau of Labor Statistics from December 2014 and December 2015.
The studies conclude that San Francisco’s job growth spurt is the result of construction, tourism and tech.
“The construction sector grew the fastest, 40 percent over the last years,” chief analyst at Headlight Data, Chris Engle, explained in an interview with San Francisco Business Times. “The information sector, which includes data centers grew 31 percent. The tourism sector is also performing well, creating 51,000 new jobs in leisure and hospitality, which includes hotels and restaurants.”
San Jose tops the charts for job growth rate
- San Jose ranked as the number one city for fastest growing economy over a one-year employment growth period with a 4.4 percent rise between 2014 and 2015. It also ranked as the fastest growing private economy with a 4.8 percent year-over-year increase.
- Closely tailing San Francisco, it ranked number six for most improved job growth rate.
For more on the results of the job growth studies, check out the following tables by Headlight Data.