John Barrett of the executive search firm Cook Associates scours LinkedIn every quarter to understand the hiring trends at Internet and digital media companies in Boston and New York. (I posted about his Q2 report back in July.)
The news wasn’t good in the third quarter: only 260 net new jobs were created among the 152 companies he tracks. That’s just a 1.9 percent increase over where things were at the start of the quarter. Growth was stronger in Q1 and Q2: 8 percent and 3.2 percent, respectively.
“This is not a sign of a healthy, growing sector, and it’s a result of VC investing being soft in Boston,” Barrett writes via e-mail.
By contrast, job growth in New York was 3.2 percent in the third quarter, down from 5.6 percent in Q2. According to Barrett, more of Boston’s new jobs are being created by public companies (roughly 75 percent) than is the case in New York (about 55 percent). Barrett’s index includes only companies with 10 or more employees, and he follows more than twice as many companies in New York (320) as he does in Boston.
To read Kirsner’s full post on Boston.com’s Innovation Economy blog, please click here.