There is, under the Manhattan Bridge in Brooklyn, New York, a small company that is defying the odds. Despite the sluggish economy, this high-tech startup is hiring.
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Eric Alterman, Founder and CEO of Flow Corporation, explains:
“Our expectation in the next year is you know double and triple probably at least in the next 12 months and we also think there will be a lot of affiliated companies that will be doing a lot of hiring around our platform as well.”
The company is creating a data exchange for mobile, web and enterprise applications to communicate with one another in real time and share data, so a real estate application may show home buyers new homes but would also draw information from other apps on the local schools, restaurants and culture.
The Flow has added seven positions in the past year and a half. Steven Fleisher is one of those new hires.
“I had heard you know the economy was bad and there weren’t a lot of jobs but in my search for a job I found that there was a lot of jobs out there, I found the industry where I was heading to be very rich.”
The latest read on the jobs market also offers some optimism for job hunters. Employers added 117,000 jobs in July, well ahead of estimates.
A separate government survey shows the unemployment rate fell slightly to 9.1%. But it may be too soon to say the job market is back on its feet.
JP Morgan’s Chief Economist, Anthony Chan, says:
“We have to essentially feel a big sigh of relief that the economy is not falling off a cliff. That it is still growing, that is the good news. The bad news is that it’s not growing fast enough to really put a real dent in the unemployment rate moving forward.”
While The Flow, which plans to launch its consumer service and platform in a few weeks, is optimistic that high tech will create a wealth of jobs in the coming years, it won’t be enough to put all of the 13.9 million unemployed back to work.
Bottom line: Despite the rocky economy a Brooklyn, New York-based tech startup plans to double in size this year… just as the government reports stronger job growth in July.