Tech:NYC Digest: August 7

Tech:NYC Digest: August 7

August 07, 2023 • Estimated Reading Time: 7 minutes

Monday, August 7, 2023

In today’s digest, the numbers behind tech’s latest hiring month, why Gov. Hochul is convening AI experts, and the role of remote work in attracting talent.  

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  • According to new research tracking downtown foot traffic between March and May 2023, NYC is at 67% of pre-pandemic traffic (compared to San Francisco’s 31.9%). (Axios)

  • New York City will open a shelter for migrants on Randall’s Island that will house roughly 2,000 adult asylum seekers, Mayor Eric Adams announced today. (Gothamist)

    • With more than 57,000 migrants now under the city’’s care, sites at Central Park and Prospect Park are still reportedly under consideration.

  • Gov. Kathy Hochul says she's planning to convene a gathering of AI experts to help take the steps in utilizing artificial intelligence in New York. (CBS Albany)

    • Sen. Chuck Schumer announced a plan for similar AI-focused forums at the federal level during a Tech:NYC event last month. 

In other reading:

  • MTA now selling 50th anniversary of hip hop commemorative MetroCards (ABC New York)

  • The future of cities, according to the experts (Vox)

  • NYC Restaurants Are Ditching House Phones. That Doesn’t Mean You Should Text the Owner. (Eater NY)

Last month was a busy one for tech hiring, according to the latest report from the Computer Technology Industry Association (CompTIA), which analyzes federal jobs data. Here are some top takeaways:

Tech-sector hiring and technology jobs: ⬆️ Tech unemployment: ⬇️.

  • Tech sector companies increased their staffing by 5,432 employees in July, according to CompTIA, led by hiring in the IT and custom software services and systems design category.

  • Tech jobs across all industry sectors increased by 65,000, reversing a decrease from June. 

  • The tech occupation unemployment rate fell to 1.8%, the lowest since January 2023. 

Layoffs have also slowed significantly from a peak at the start of the year. 

  • There were 88 tech companies that conducted layoffs for about 10,000 total roles in July, according to Layoffs.fyi, compared to 274 companies cutting about 90,000 jobs in January. 

AI demand is still strong, especially in New York. 

  • While tech-related job listings edged down in the New York metro in July from June, according to CompTIA, positions seeking people with AI-related skill climbed by 14% last month, with more than 1,000 total.

Don’t forget: Tech:NYC's jobs board has been updated every 24 hours since it was launched five months ago, with nearly 5,500 listings from more than 700 Tech:NYC member companies. Explore open roles at every Tech:NYC member company here. 

In other reading:

  • Need to Hire Workers in a Hot Job Market? Let Them Do Some Remote Work (Wall Street Journal)

  • Employers bringing staff back to work via bike, ride share (WorkLife)

  • As a tech founder, here are the traits I value more than experience (Fast Company)

  • Acelab, a NYC-based building product selection company, raised $5.3 million in funding. Pillar VC, PJC, and Draper Associates co-led the round and were joined by Alpaca, Transcend Partners, Branagh Construction, and others.

  • Haus, a NYC-based startup that helps companies measure returns on marketing investments, raised $17 million in Series A funding. Insight Partners led the round and was joined by Baseline Ventures, Haystack Ventures, Upside Partnership, Octave Ventures, and Mantis Venture Capital.

  • Jericho Security, a NYC-based cybersecurity company focused on corporate email, raised $3 million in a pre-seed funding. Era led the round and was joined by Lux Capital, FoundersXFund, MetaLabs, Alcove, Textbook, Alumni Venture Group, Thorntree, and a group of individuals.

  • August 8: In-person: Entrepreneurs Roundtable 180, with New York Venture Partners founding partner Brian Cohen. Hosted by ERA. Register here.

  • August 10: Virtual: AI HQ speaker series, with Character.ai CEO Noam Shazeer and Greycroft partner Dylan Pierce. Hosted by Axios. Register here.

  • August 15: In-person: AI@Work City Tour: AI for customer service and sales leaders, with Dialpad CEO Craig Walker, Dialpad VP of AI Engineering Jim Palmer, and others. Register here.

  • August 22: Virtual: #notapitch: Unofficial Feedback on Your Idea/Prototype from a VC, with Brooklyn Bridge Ventures partner Charlie O’Donnell. Register here.

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