June 29, 2016
CBRE Research has published its third annual Scoring Tech Talent report, our comprehensive look at the shifting tech labor market in the U.S. and Canada. Tech-talent growth rates are the best indicator of labor pool momentum. By our definition, tech talent accounts for only 3.5% of the total U.S. workforce, but it should be noted that the number of tech-talent workers has increased 27% over the past five years, adding more than 1 million jobs to the national economy—a pace more than three times the national average of all other occupations. Beyond job creation, tech-talent workers are fueling new innovation and adapting technology within unconventional tech sectors to increase productivity and strengthen the national economy.
We looked across the U.S. and Canada using 13 metrics to gauge the competitive advantage of markets and their ability to attract, grow and retain tech-talent pools. This allowed us to determine the top-ranked markets for tech talent. In this report, we identify both large and small markets where demand for tech workers has surged.
How is tech talent igniting innovation and influencing economic and real estate growth across the U.S. and Canada?
4.8 million tech-talent workers are specialized and concentrated across four key occupations
tech-talent markets were scored using 13 metrics, including strong labor pool
and job growth
Tech talent has grown by 27% or 1 million jobs over the past five years
Highly educated millennials are flocking to top job markets
Tech-talent employers scrutinize talent and real estate costs to guide location decisions