US census data shows the region that includes San Francisco, Oakland, and Hayward — a city in the East Bay that offers a quicker commute to Silicon Valley — lost more residents than it attracted between 2016 and 2017. And the migration is worsening in the Bay Area's urban core.
12 cities with the most job openings:
12 cities with the most job openings
12 cities with the most job openings
12. Jobs in Phoenix
Job openings: 13,409
Current growth in Phoenix is slower than it was during past booms, but the economy is still creating jobs. The Phoenix metro area is chock-full of small businesses — 96 percent of the region's 126,000 businesses have 50 or fewer employees.
The leisure and hospitality sector is booming, with growth of 7.1 percent from July 2016 to July 2017, according to the U.S. Bureau of Labor Statistics. The next fastest-growing sector was construction, with 3.5 percent growth over the same time frame.
11. Jobs in Denver
Job openings: 13,958
The chief economist for the Metro Denver Economic Development Corporation, Patty Silverstein, forecasts strong job growth continuing for Denver after a "stellar" 2016. The Denver job growth forecast is 2.4 percent in 2017, with four sectors posting strong employment growth:
Leisure and hospitality
Education and health services
Natural resources and construction
Strong economic activity and net migration are expected to push home prices higher, which could have positive, ancillary benefits on the economy.
10. Jobs in Boston
Job openings: 14,631
Boston is a college town, home to prestigious institutions likes Harvard University, Massachusetts Institute of Technology and Boston College. In fact, as of 2016, the city had the largest concentration of top-tier research universities in the country.
Boston also has a number of the country's best hospitals, including Massachusetts General. Thus, it is no surprise that the highest level of employment in the city is in education and health services.
9. Jobs in Dallas
Job openings: 15,057
Dallas is a bright spot in the Texas economy. Economic growth over the next five years is expected to reach 4.2 percent per year, according to the city's economic forecast.
Dallas is a key driver of economic growth in the state, according to the Dallas Chamber of Commerce. The city is blessed with a diverse economy and its business concentrations are in logistics, technology and corporate headquarters.
8. Jobs in San Francisco
Job openings: 15,972
San Francisco is the fourth most-populated state in California and it runs neck-and-neck with Los Angeles when it comes to having the most job openings.
With a well-known concentration of financial services companies, including Wells Fargo and Charles Schwab, it should be no surprise that the professional and business services industry is No. 1 when it comes to employment in San Francisco.
7. Jobs in Los Angeles
Job openings: 17,061
Los Angeles is the capital of the world for show business — and it's the largest city in the state. As a result, the city's economy is naturally large and diversified.
Away from the glitz and glamour of Hollywood, Los Angeles is also the home to the nation's No. 1 container port, which makes trade its top industry.
Education and health services come in a close second.
6. Jobs in Seattle
Job openings: 17,576
Seattle's economy is well-rounded, which results in many job opportunities. Seattle offers employment in a variety of industries, ranging from trade to transportation and utilities to professional and business services to government to education and health services, according to the U.S. Bureau of Labor Statistics.
Seattle's economic development plan focuses on "business cluster development," or the effort to align companies in a geographic area that work in the same industry. The city believes that this type of coordinated, economic development activity is the key to Seattle's economic growth.
5. Jobs in Washington, D.C.
Job openings: 18,541
As befitting the nation's capital, government jobs in DC make up the largest employment sector. The city also offers high levels of employment in the fields of professional and business services and education and health services.
The city has several organizations and agencies that focus on potential economic development opportunities, and it has initiatives designed to develop small business owners.
4. Jobs in Houston
Job openings: 19,564
Although Houston's economic situation might change in the aftermath of 2017's Hurricane Harvey, it stands at No. 4 on this list of cities with the most job openings. According to the U.S. Bureau of Labor Statistics, the industries with the most workers in Houston are:
Transportation and utilities
Professional and business services
Leisure and hospitality
The city's economic development plan identifies the energy, manufacturing and medical sectors with the most robust growth.
3. Jobs in Atlanta
Job openings: 20,712
Atlanta's two main industries — in terms of the percentage of the population that is employed in those fields — are sales, administrative support, management, business and finance. The city, however, also employs those in the science, education, library, engineering and computer sectors at a rate above the national average.
The city's most recent Comprehensive Development Plan was adopted on Nov. 21, 2016, to further economic growth in the city. Invest Atlanta, the city's development authority, is focused on growing residential and commercial economic vitality in the city.
2. Jobs in Chicago
Job openings: 25,104
Chicago, has the second-highest number of job openings on the list. Chicago's economy is guided by an economic development plan entitled, "A Plan for Economic Growth and Jobs," created by World Business Chicago and the city's mayor, Rahm Emanuel.
Chicago's diverse economy has 13 key industries:
Plastics and chemicals
1. Jobs in New York
Job openings: 37,428
New York City boasts a growing, diverse economy that has many growing industries, hence its No. 1 position in this list of cities with job openings.
New York's core businesses include technology, fashion, food manufacturing, food retail, healthcare, industrial and manufacturing, life sciences and urban innovation and sustainability.
New York is particularly booming when it comes to the startup sector, which accounts for more than 291,000 jobs and more than $124 billion in economic output.
The San Francisco-Oakland-Hayward metropolitan area lost only half that many residents the year prior. As recently as 2013 – 2014, the region saw net annual gains of about 15,000 people.
A critical lack of affordable housing and sky-high rent prices have made the San Francisco Bay Area unlivable for many artists, artisans, longtime residents, and even tech entrepreneurs.
The median-priced home in San Francisco sells for $1.5 million, according to Paragon Real Estate Group. It's not uncommon for buyers to bid hundreds of thousands above asking and pay in all cash.
The situation has forced many to rent longer than they would like. In March, San Francisco's median two-bedroom rent of $3,040 was about two and a half times as high as the national average. Still, people are finding ways to make it work. They cram into communal housing, or "co-living" units, that offer perks like maid service and free internet in lieu of space. Some give up their internet, cable, and cars, while others take home wherever they go by living in vans.
The housing crisis could put Silicon Valley at risk
The San Francisco Bay Area, recognized as a global hub of tech finance and innovation, may be at risk of losing top tech workers if they can't afford to live there, even on six-figure salaries.
Katherine Maher, executive director of the Wikimedia Foundation, which is based in San Francisco, responded to the report on Twitter, saying: "As a non-profit employer, I cannot see how we reconcile this with a future for our organization in San Francisco."
She added: "Our local employees, particularly the younger ones, struggle to make ends meet. They leave when they start families. How can we be an equitable employer when only those who can afford to work for us, do?"
Brian Brennan, senior vice president at the Silicon Valley Leadership Group, told the Wall Street Journal that while the area's high-paying jobs and lifestyle still bring tech workers to the Bay Area, "it is hard to get the best talent outside of this region to come here and stay here."