To determine the cities with the fastest growing high-tech sectors, 24/7 Wall St. reviewed employment data by detailed industry from the Bureau of Labor Statistics Quarterly Census of Employment and Wages. Metropolitan statistical areas were ranked based on the percentage increase in employment industries defined as “high-tech” by the BLS from 2015 to 2020. The BLS identified high-tech industries in a March 2018 publication titled “High-tech industries: an analysis of employment, wages, and output” as those with a concentration of STEM (science, technology, engineering, and mathematics) occupations at least 2.5 times greater than their average concentration nationwide in goods-producing and service-providing industries.
Only metropolitan areas in which high-tech industries constitute at least 5% of the total workforce and where the high-tech industries added at least 1,000 jobs in total from 2015 to 2020 were included for consideration. Data on average annual pay by detailed industry also came from the BLS QCEW. Supplemental data on the percentage of adults 25 years and older with a bachelor’s degree or higher came from the U.S. Census Bureau’s American Community Survey and are five-year estimates for 2020.
High-tech industries include: oil and gas extraction; electric power generation, transmission and distribution; basic chemical manufacturing; pharmaceutical and medicine manufacturing; industrial machinery manufacturing; commercial and service industry machinery manufacturing, including digital camera manufacturing; computer and peripheral equipment manufacturing, excluding digital camera manufacturing; communications equipment manufacturing; audio and video equipment manufacturing; semiconductor and other electronic component manufacturing; navigational, measuring, electromedical, and control instruments manufacturing; manufacturing and reproducing magnetic and optical media; electrical equipment manufacturing; aerospace product and parts manufacturing; pipeline transportation; software publishers; wired telecommunications carriers; wireless telecommunications carriers (except satellite); satellite, telecommunications resellers, and all other telecommunications; other telecommunications; data processing, hosting, and related services; other information services; architectural, engineering, and related services; computer systems design and related services; management, scientific, and technical consulting services; scientific research and development services; and management of companies and enterprises.
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