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Jon Talton

Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.

June 11, 2012 at 9:05 AM

Seattle keeps its groove for tech jobs

Silicon Valley is hard to beat, but by one calculation the Puget Sound region has done better in the long run at creating and retaining science, technology, engineering and mathematics-related (STEM) jobs. This according to a study published last month on the New Geography blog. It helps explain one reason (another is trade) why Seattle is doing better than most places in the two-track surviving/depression economy.

So which areas offer better long-term, broad-based prospects for tech growth? The most consistent performer over the period we assessed is the Seattle-Tacoma-Bellevue, Wash., metro area, which takes first place on our list. Its 12 percent tech job growth over the past two years and 7.6 percent STEM growth beat the Valley’s numbers. More important for potential job-seekers, the Puget Sound regions has grown consistently in good times and bad, boasting a remarkable 43 percent increase in tech employment over the decade and an 18 percent expansion in STEM jobs.

It goes on to note, “Seattle withstood both recessions of the past decade better than most regions, particularly the Valley. The presence of such solid tech-oriented companies as Microsoft, Amazon and Boeing — and lower housing costs than the Bay Area — may have much to do with this.” I’d add: the University of Washington (n.b. legislators).

And on to Europe: The Spain bailout won’t work. That $125 billion props up zombie banks lending to other zombie banks and holding loans to a zombie government that can never be repaid. It does nothing to address Great Depression-like unemployment or restart growth. Questions?

And Don’t Miss: Where the private sector actually is ‘doing fine’ || The Atlantic

Today’s Econ Haiku:

Ole boyz, your money

Of course the New York Fed prez

Sez Jamie should stay

Comments | More in Banking, Eurozone, Tech economy, Universities/Knowledge economy

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