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Author Topic: Bay Area hammered by loss of 4,700 jobs  (Read 1266 times)

rcjordan

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Bay Area hammered by loss of 4,700 jobs
« on: October 23, 2017, 05:12:02 PM »
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The Bay Area’s job losses stem from two distinct phenomena: Some employers are slashing positions, and others are unable to hire. Some economists attribute this second problem to structural barriers posed by skyrocketing housing costs. The lack of affordable places for workers to live appears to have hobbled the region

http://www.mercurynews.com/2017/10/20/san-jose-san-francisco-oakland-job-losses-hammer-bay-area-employers-slash-thousands-of-jobs/
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grnidone

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Re: Bay Area hammered by loss of 4,700 jobs
« Reply #1 on: October 23, 2017, 05:15:23 PM »
That's exactly why I left California.
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littleman

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Re: Bay Area hammered by loss of 4,700 jobs
« Reply #2 on: October 23, 2017, 05:25:53 PM »
That all sounds about right.  The situation here for non-skilled work is really bad.  There are still a lot of people who work in SF or SJ that live in places like Tracy but that could take 2+ hours during commute times, and the congestion is getting rapidly worse. 

The silver lining is that the employment for teens here is really good, because there is such a gap between minimum wage and a living wage most service jobs have a lot of kids working them.  This seems to be bucking the national trend of teens not working.  Both of my older kids have part time jobs.
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ergophobe

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Re: Bay Area hammered by loss of 4,700 jobs
« Reply #3 on: October 24, 2017, 01:34:22 AM »
Quote from: rcjordan on October 23, 2017, 05:12:02 PM
lack of affordable places for workers to live appears to have hobbled the region

This is also striking every ski resort and tourist town hard. The big businesses build housing for their employees, which basically mean that none of their employees have families, because the housing is usually dorm style. The small business just can't find anyone to hire.

But it's happening in CO too. We were talking to some workers in Dillon (think Vail, Keystone, Breckenridge area) and it's the same deal. If they can find anywhere to live, they are stuck sleeping 8 people in the three-bedroom house to pay rent on the wages they earn.

Sooner or later, all the engineers from the Bay Area and Denver are going to run out of places to recreate unless they are very self-sufficient... and until robots run restaurants
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Travoli

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Re: Bay Area hammered by loss of 4,700 jobs
« Reply #4 on: October 24, 2017, 01:41:14 AM »
My understanding is that tech companies are going from CA to Denver/Boulder and Austin for the lower taxes... and thus the transplants drove up the housing prices because it was comparatively cheap. Google hiring/moving a lot of engineers to Boulder right now.
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rcjordan

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Re: Bay Area hammered by loss of 4,700 jobs
« Reply #5 on: October 28, 2017, 12:04:59 AM »
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The basic premise was that by creating a good environment for knowledge workers -- both the science and engineering types and the creative artistic types -- cities could attract the human capital that would bring in businesses and ultimately re-invigorate their economies.

The strategy worked. New tech clusters like Austin, Texas, and aging post-industrial cities like Pittsburgh were able to use the Florida strategy to good effect. Urban economist Enrico Moretti has documented the dramatic economic and social outperformance of U.S. cities and regions that have managed to attract knowledge workers.

Now Florida thinks the strategy might have worked a bit too well. In a new book titled “The New Urban Crisis,” Florida reverses much of his earlier optimism about the potential of knowledge-hub cities. These metropolises, he contends, have now become engines of inequality and exclusion.

https://www.bloomberg.com/view/articles/2017-10-27/rise-of-the-creative-class-worked-a-little-too-well
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Mackin USA

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Re: Bay Area hammered by loss of 4,700 jobs
« Reply #6 on: October 28, 2017, 11:38:38 AM »
>My understanding is that tech companies are going from CA to Denver/Boulder and Austin for the lower taxes...

Crippling home prices, traffic congestion, high taxes and the rising cost of living have all contributed to an increase in “net outward migration” from California, particularly in the Bay Area.

http://www.breitbart.com/california/2016/06/23/unlivable-exodus-from-california-increases-due-to-cost-of-living/
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Mr. Mackin

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Re: Bay Area hammered by loss of 4,700 jobs
« Reply #7 on: October 29, 2017, 02:28:59 AM »
>>Google hiring/moving a lot of engineers to Boulder right now

We have a small office of developers and engineers in Boulder. About 35 people or so. But they are planning on ramping up to 60+ in the next few months. Much cheaper to hire someone there than the Bay Area. If you figure between the lower cost of living, cheaper office space, lower salaries, taxes, etc. I would guess you could probably save $50-100K per year per employee hiring in Boulder vs. Bay Area.
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