New York has surpassed the San Francisco Bay Area as the top market for tech talent for the first time in 13 years, according to data released by CBRE. Propelled by rapid growth in artificial intelligence and heavy hiring by the financial sector, New York recorded 394,300 tech jobs, edging out San Francisco’s 375,730 positions.
The Financial Sector Drives Manhattan’s Tech Expansion
According to Colin Yasukochi, executive director of CBRE’s Tech Insights Center in San Francisco, local tech contractions in the West Coast hub contrasted sharply with Manhattan firms absorbing top-tier talent.
Here is the math: Across the U.S. and Canada, AI-related tech roles expanded by 45% over the past year. By June, the two nations combined for 751,000 AI-related workers, with AI roles now representing nearly one-third of all tech job listings nationwide. While San Francisco maintains its lead specifically in AI, New York dominates the broader tech talent aggregate.
The Bottom Line
- Market Shift: New York claims 394,300 tech jobs, overtaking San Francisco’s 375,730 positions in CBRE’s 75-market analysis.
- AI Concentration: Artificial intelligence roles surged 45% year-over-year, accounting for nearly one-third of total tech job listings across the U.S. and Canada.
Commercial Real Estate and the Return to the Physical Desk
The office leasing market in core urban centers is directly reflecting this employment shift. In San Francisco, AI companies constituted 58% of all leasing activity in the first half of this year and have accounted for 30% of leasing activity, totaling about 10 million square feet, since 2023, per CBRE metrics.
| Metropolitan Market | Total Tech Talent Jobs | Primary Growth Driver | AI Leasing Concentration |
|---|---|---|---|
| New York | 394,300 | Finance Sector / AI Integration | High (Manhattan Core) |
| San Francisco Bay Area | 375,730 | AI Startups | 58% of H1 Leasing |
Yasukochi noted that AI firms generally operate on an in-office schedule of four to six days per week. This dense clustering directly supports commercial landlords in Manhattan, Boston, and Seattle.
Macroeconomic Realities and Labor Resilience
Market observers previously worried that automation and generative AI deployment would trigger widespread headcount reductions and depress commercial real estate demand. Yet current data demonstrates that the technology acts primarily as a force multiplier rather than a job eliminator.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
