Since 2010, our region has recovered hundreds of thousands of lost jobs. With 3.7 million jobs in 2015, the total number of jobs in Bay Area exceeded the previous peak set in 2000. Professional and business services, which includes professions like administrative services and management, legal services, scientific research, and computer systems and design, continue to be the largest industry in our region, but other service sector jobs have grown significantly since 1990. This shift towards the service sector reflects an increased demand for education, healthcare, hospitality and information services. The educational and health services sector has been the region’s fastest growing industry since 1990.
The finance sector has long been one of the pillars of the regional economy, especially in San Francisco. The sector’s share of overall regional jobs, however, has declined since 1990. This is perhaps most visible in San Francisco’s Financial District, where technology firms are becoming increasingly common in buildings formerly occupied by the financial services companies. Despite San Francisco’s history as a global financial center and its prominence as a center of venture capital, the Bay Area does not have a higher share of financial services jobs than the country as a whole. Instead, the professional and business services sector continues to rise in prominence, paralleling growth in high-tech industries.