Dan Primack: The Web 2.0 Bubble is a Job Creator

So we’ve got that going for us…which is nice.

Here’s Fortune‘s ace deal reporter Dan Primack on how the web startup bubble is helping with the hiring crisis:

Between March 2009 and March 2011, the U.S. economy lost nearly 1.29 million non-farm jobs. During that same period of time, however, a number of private, VC-backed tech start-ups went in the opposite direction. In fact, just three of them alone added more than 11,000 new positions during that two-year period, according to documents filed with the SEC:

  • LinkedIn (LNKD): 1,288 total employees (79% hired since March 2009)
  • Groupon: 7,107 total employees (99.5% hired since March 2009)
  • Zynga: 2,200 total employees (92% hired since March 2009)

Yes, these are small numbers in the grand scheme, but growth is growth and these are doubles in headcount.  Also, as Dan notes, there are some much bigger Web 2.0 companies out there hiring up a storm like Facebook, Living Social and Twitter.  And of course, Google’s hiring is expected to be monstrous by year-end 2011 just to keep up with it all.

Now if only we could retrain all those real estate and mortgage brokers to learn some basic coding…

Source:

Web 2.0 hiring binge (Fortune)

Tags: $LNKD $GOOG $GRPN

 

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