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High-tech jobs far outpace other sectors

The technology industry is adding nearly four times as many jobs as other industries.

The technology industry is adding nearly four times as many jobs as other industries.

Moving trucks may be a more common sight in cities with a strong technology industry, as a Jones Lang LaSalle report showed tech jobs are being created at a rate nearly four times higher than other sectors. San Francisco, the Silicon Valley, Seattle, New York and Baltimore have the highest growth rates.

"Consumer demand for gadgets, apps and new forms of media - coupled with businesses' technological needs - are what's driving high-tech employment," said Colin Yasukochi, San Francisco-based director of research for Jones Lang LaSalle's Northwest Region. "While not strong enough to uplift the entire national economy, high-tech strength is impacting office markets across the country."

The report found that the technology industry has accounted for 50 percent of the total venture capital funding over the past four quarters, with biotechnology and medical devices making up half of that. While the industry is strong, the report said the growth differs from the high-tech boom of the 1990s because venture capitalists are more cautious with funding.

In January, research firm MarketsandMarkets predicted the global mobile application market will be worth $25 billion by 2015, up from $6.8 billion in 2010. North America has led the market since 2009 with a 41.6 percent revenue share.