Bloomberg/ TechCrunch/ WSJ/ WSBA/ US Chamber of Commerce report finds tech readiness level in each US metro area, which is an indicator of the health of the economy and jobs.
It says tech readiness is at or near a critical level, with a high level indicating high demand and a low level indicating low demand.
The report says that in the first quarter of 2017, tech readiness was at or above a critical point in the US economy, and in the second quarter of this year, it reached a critical tipping point.
Tech readiness is measured by the ratio of job openings for the most recent quarter to the number of available jobs.
In 2017, the tech-ready metro area ratio reached a historic high of 2.1, while the critical metro area level was just above 1.4.
In the first three months of 2018, the ratio reached 1.3, with the critical ratio reaching 1.8 in the third quarter of 2018.
The key metrics are the number and percentage of jobs that were opened for the current quarter, the percentage of those jobs created in the quarter, and the percentage that were created in a quarter that was more than 30 days.
This is where the jobs that are available tend to be more expensive, as companies may need to spend time hiring workers, said Josh Borenstein, chief executive officer of TechCrunch, which tracks technology.
The tech readiness metric has also shifted significantly over the past few years, Borensteins said.
The tech readiness index, which measures a metric such as how many new tech jobs are being added every month, peaked at 1.89 in the fourth quarter of 2016.
That number has since declined to a mere 0.94 in the latest quarter.
The critical metro areas index is a measure of how many jobs are available in each city and town, with an increasing number of cities with a critical threshold.
Borensons blog said that since 2009, cities with the highest critical metro level scores have included Atlanta, Atlanta, Austin, Baltimore, Boston, Chicago, Cleveland, Dallas, Detroit, Indianapolis, Los Angeles, Memphis, Miami, Minneapolis, New Orleans, New York City, Philadelphia, San Diego, Seattle, Tampa, Texas, and Washington, DC.
The lowest critical metro levels are measured in New Orleans and Houston.
In the report, TechCrunch found that the tech economy in each metro area is in a “critical state” and that the critical threshold has declined since 2008.
Tech employment is the second largest industry behind only the manufacturing sector, the report found.
The US Chamber report also found that employment growth is not only stagnant in the tech sector, but also has slowed considerably.
The report found that unemployment is up over 8 percent for tech workers since the end of the recession in 2008, and more than 10 percent since the Great Recession in 2009.
“Tech employment growth has been a steady and healthy stream of employment for more than three decades,” the report says.
“While the labor market is far from perfect, the economy has managed to create nearly a million tech jobs annually for the last decade.
The recovery from the Great Depression did not happen in the same way as many hoped, and tech is the fastest-growing industry in the country.”
The report did not provide data on the number or percentages of tech jobs that remain available.
The Chamber of Tech report, however, notes that tech workers are finding jobs that they cannot find in the marketplace.
The sector has been “largely dormant,” with only 14 percent of jobs in the sector held by tech workers in 2020.
Tech workers, the Chamber found, are making up nearly one-third of all workers employed in the industry.
Tech workers have been in a long-term job search for a number of years, and many companies have cut back on the amount of hours they give their employees, said Borenstien.
Companies may be laying off more people, or they may be hiring more people to fill those jobs.
The chamber’s report notes that some companies are reducing hours for new hires and increasing training for those who are already working.
Tech has a long way to go, but the economy is improving, the chamber found.
Tech is creating jobs, creating more than $2 trillion in new jobs, and is contributing $3 trillion to the U.S. economy.