To determine the cities with the most high-tech jobs, 24/7 Wall St. reviewed employment data by detailed industry for 2020 from the Bureau of Labor Statistics Quarterly Census of Employment and Wages. Metropolitan statistical areas were ranked based on employment in industries defined as “high-tech” by the BLS as a percentage of total employment. 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.
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.
The industry listed as the most concentrated high-tech field is the high-tech industry with the highest location quotient — the share of employment within an industry relative to the national share of employment in that industry. Only industries that constitute at least 1% of the local workforce were considered.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.