Silicon Valley dethroned as hottest tech job market following layoffs: report
A new report shows Washington, D.C., and New York City have both eclipsed the tech mecca in openings
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Silicon Valley may be known as the technology Mecca, but layoffs in the industry by major California-based firms in recent months mean it has been dethroned as the best place to look for a job in the sector.
Citing an analysis by data firm Vertis AI Inc., the Wall Street Journal reported Tuesday that two East Coast metros have eclipsed Silicon Valley as the hottest tech job markets in the U.S.
Birds eye view of the West Facade of the U.S. Capitol Building and Pennsylvania Avenue in Washington, DC. (iStock / iStock)
Vertis found that at the end of last year, there were some 2,369 open positions posted for software engineers in the San Francisco area and 2,084 in and around San Jose. At the same time, the Washington, D.C. region had 3,815 postings for the tech position, while the New York City metro offered 3,325.
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Technology firms have slashed more than 190,000 jobs since the beginning of 2022 according to Layoffs.fyi, a website that tracks jobs cuts in the industry. Those include several Silicon Valley giants such as Google parent company Alphabet Inc. and Facebook parent company Meta.
A sculpture at Google headquarters in Mountain View, California, US, on Monday, Jan. 30, 2023. (Marlena Sloss/Bloomberg via Getty Images / Getty Images)
But while the major tech titans are trimming payrolls, other companies are still hiring.
Unemployment is at its lowest level since 1969 and workers remain in high demand, with the government reporting earlier this month that there about 10.46 million job openings at the end of November — the 13th consecutive month that openings have topped 10 million.
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Data indicates more tech workers are also being picked up by non-tech firms.
A new analysis shows East Coast cities are now hotter tech job markets than Silicon Valley following waves of layoffs by major firms. (iStock / iStock)
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The Journal reported that data from job site Handshake showed that while there were fewer software and computer engineering gigs posted in 2022 than the year before, industries like government and finance posted more openings for such positions.
FOX Business' Megan Henney contributed to this report.