(KTSF by Hellas Leung)
A report on the $535 billion Bay Area economy shows that the region is thriving as a business center.
The report produced by the Bay Area Council shows that the productivity among businesses averaged an annual growth of 2.8 percent since 2005, excluding financial services. But productivity has increased because of reduced employment rather than increased output .
The Bay Area has about the same number of jobs today as it had in 1996, but the number of blue collar jobs has decreased.
Sean Randolph, CEO of the Bay Area Council, said it is because the demand of some jobs no longer exists, for example, manufacturing.
“Manufacturing has become so automatic. It tends to be very high-value now . ” Randolph said. “It doesn’t employ a lot of people. You can do the same process with 3 people that took 30 before.”
Randolph encourages everyone to keep on learning in order to remain competitive in the job market , adding that
“Their skills may be last-generation skills. You’ve got to keep up-to-date. It ‘s got to be relevant to what is going on right now .”
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