Image via iStock.
A new report from CBRE found that the region lost around 10,000 tech jobs in the last five years, making it harder to retain tech students.
A new report from CBRE found that the Philadelphia region lost around 10,000 tech jobs in the last five years, making it harder to retain local tech students after graduation, writes Ryan Mulligan for the Philadelphia Business Journal.
The Philadelphia market placed at No. 24 in North America and No. 18 in the United States on CBRE’s 2024 Scoring Tech Talent Report, which is two spots lower than last year.
The Philadelphia market lost 2,700 tech jobs from 2022 to 2023, or around 2.3 percent, with tech employment dropping from 108,630 to 105,930. The drop was steeper from 2018 to 2023, as the number of tech positions in the area fell by 8.5 percent, or 9,870 jobs.
The decrease in the number of tech positions comes as colleges and universities in the Philadelphia region added 31,542 tech degree graduates between 2018 and 2022.
Despite the drop in tech jobs, Greater Philadelphia remained a magnet for new young professionals. From 2017 to 2022, the region recorded a 13.3 percent increase in residents with college degrees in their twenties, and a 23.6 increase in residents with college degrees in their thirties.
Read more about the report’s findings about tech job losses in the Philadelphia Business Journal.
______