Silicon Valley's tech job market just hit a milestone nobody wanted.
Information sector employment in SF and northern Silicon Valley dropped to 102,529 jobs—lowest since October 2019. Down 3,007 jobs since March alone.
Bigger picture: Since the August 2022 peak, the sector shed 28,914 jobs (-22%). That wipes out the entire pandemic hiring boom.
To put that in context: During the 2001 recession, the decline was 17,719 jobs (-26%). We're approaching similar territory.
Meanwhile, the Professional, Scientific and Technical Services sector lost 35,500 jobs since June 2022 (-13.2%), now at 198,800—lowest since March 2019.
After the 2000 Dot-Com Bust, that sector dropped 28% through October 2003.
The post-pandemic tech hiring frenzy? Completely reversed.
This isn't just about layoff headlines anymore. The structural shift is real, and the Bay Area labor market is reflecting it in hard numbers.
Information sector employment in SF and northern Silicon Valley dropped to 102,529 jobs—lowest since October 2019. Down 3,007 jobs since March alone.
Bigger picture: Since the August 2022 peak, the sector shed 28,914 jobs (-22%). That wipes out the entire pandemic hiring boom.
To put that in context: During the 2001 recession, the decline was 17,719 jobs (-26%). We're approaching similar territory.
Meanwhile, the Professional, Scientific and Technical Services sector lost 35,500 jobs since June 2022 (-13.2%), now at 198,800—lowest since March 2019.
After the 2000 Dot-Com Bust, that sector dropped 28% through October 2003.
The post-pandemic tech hiring frenzy? Completely reversed.
This isn't just about layoff headlines anymore. The structural shift is real, and the Bay Area labor market is reflecting it in hard numbers.
