The recovering economy is part of Building A Better Bay Area.
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A new analysis today of the Bay Area job market shows job seekers can expect higher pay and, in a few cases, even recruitment bonuses.
With the economy on the rebound,160,000 workers nationally quit their jobs last month in search of a better one. Why? Because competition to hire employees is driving up pay in many white collar categories.
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In a report from San Francisco based PRO Unlimited, which helps companies manage their workforce, demand in the Bay Area for creative jobs has caused a 10 percent rise in pay, a three percent increase in tech and engineering jobs, and a two percent rise in operations jobs.
However, remote work has also given workers time to reassess what's important to them.
"It's not about perhaps a better job, but it really is about better work-life balance, or about the ability to work from home or, you know, to actually have a little bit more flexibility," said Kevin Akeroyd, Pro Unlimited CEO.
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Bay Area pay is falling, though, for some jobs. It's down four percent in accounting and finance and down two percent in marketing and business development.
Perhaps it's because these jobs can be done by remote workers in lower-cost parts of the country or even overseas.
The job market's fastest growth is for contract workers.
"The really high end folks that want to work for nine months on a project and then take off and come back and do another project next year... Those are the most in demand and that employee category is literally up 20% of pre-COVID," said Akeroyd.
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The post-pandemic period is also challenging for hospitals. At Sequoia Hospital in Redwood City, filling specialized nursing and clinical lab positions takes more time and money.
"You often are looking at hiring bonuses and then retention bonuses," said Eleanor Eberhard, the hospital's chief nursing and chief operating officer. "So it can be up to several thousand dollars to allow a staff to either move here from out of state or to help them to pay off student loans, things like that."
She projects the struggle to fill those jobs could last as long as two years.