Tech start-ups in Silicon Valley see a decline in hiring
Growth in the tech start-up jobs in areas such as Bay Area in California has declined to 3.5% in 2016 from 6% in 2015 and 6.4% in 2014.
With pressure on start-ups growing around the world in terms of venture capital (VC) funding, the pressure now has come on jobs. Hiring in tech start-ups in some of the Silicon Valley areas in the US has seen a decline.
— CB Insights (@CBinsights) February 12, 2017
Growth in the tech start-up jobs in areas such as Bay Area in California has declined to 3.5% in 2016 from 6% in 2015 and 6.4% in 2014, according data from the California Department of Labor, Beacon Economics. The year 2014 has been the peak for hiring in tech start-ups in the US.
Similarly, new tech jobs has slow down to 3.6% in 2016 from 5.3% in 2015 and its peak of 6.3% in 2014. Even in San Francisco and San Mateo counties jobs has declined from its peak in 10.1% in 2014 to 8.7% in 2015 and now to just 3.1% in 2016.
A CB Insights report too said that it has become harder to get a job and start-up employers are being pickier right now in the Bay Area of Silicon Valley.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.