Health care and tourism are two of the big contributors to the San Francisco area’s economy, and technology giants such as Google, Yahoo and LinkedIn – all headquartered nearby in Silicon Valley – have conducted expansions recently in the San Francisco metro area.
In San Francisco alone, the city’s fast-growing technology sector is home to more than 2,200 companies that employ more than 58,000 workers. One of the city’s homegrown tech companies, Salesforce.com, added 1,000 local jobs in 2014, and ride-sharing service Uber is in the midst of building a new, 422,000-square-foot headquarters in the Mission Bay neighborhood.
Some of the Fortune 500 members based in the San Francisco area include Pacific Gas & Electric, clothing retailer Gap Inc. and financial interest Charles Schwab. The San Francisco metro region spans nine counties in Northern California.
With job creation steady as of late, city officials have set their sights on creating more places for workers to live, led by a plan to build 30,000 new housing units in San Francisco by 2020. One-third of those units would be permanently designated as affordable for low-income residents, and more than half of the new units will be priced for middle-income residents.
To learn more about San Francisco and other metro economies, please go to: SHRM Metro Economic Outlooks
Joe Coombs is Senior Analyst, Workforce Trends and Forecasting for the Society for Human Resource Management (SHRM). Joe tracks current trends and issues in the labor market including the economy's impact on hiring and recruiting, wages and compensation, retirement benefits and the aging of the work force. In addition to The Jobs Blog, he also writes monthly and bi-annual reports on the labor market using data culled by the research department. Contact him at Joseph.Coombs@shrm.org or on LinkedIn.
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