The Boston area is one of the top 10 markets in the U.S. and Canada for technology talent, according to a new report from commercial real estate brokerage CBRE Inc. The finding underscores one of the major reasons that housing costs are so high in the Boston area compared with the rest of the U.S. CBRE’s annual “Scoring Tech Talent” tracks urban markets according to their abilities to attract and to grow jobs in industries such as technology, biotechnology, and e-commerce. In particular, CBRE’s report found that the Boston region has a deep tech talent pool: 160,070, or 5.8 percent of the region’s total employment, compared with a national average of 3.7 percent.
What dug this pool? For one thing, according to CBRE, the region has an especially high concentration of residents in their 20s. The share of twenty-somethings is 24.1 percent here compared with 13.8 percent nationwide. And the region’s universities, colleges, and other institutions continue to turn out tech graduates. “In the last five years,” the report said, “Greater Boston has produced nearly 34,000 more tech graduates than the market could employ, making it a brain drain market.”
Read Complete Article