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Unemployment Hits New High In Silicon Valley

Posted by timothy on from the booms-and-busts dept.

Though there may be some degree of cushion for IT workers in the US generally, Slatterz writes "The steadily climbing unemployment rate in Silicon Valley has reached a shocking four-year high of 6.6 per cent. Recent statistics indicate that the percentage of unemployed workers in the sunny state of California has increased to 7.7 in August — up from 7.4 per cent in July. Jeffrey Lindsay of Bernstein Research explained that a number of Internet firms were chronically overstaffed."

4 of 338 comments (clear)

  1. Not to worry by Anonymous Coward · · Score: 4, Informative

    IT workers are cushioned from the US economic downturn.

  2. Shocking high by antivoid · · Score: 3, Informative

    "Shocking high" ??? The world's average is 30%, and where i live, its 25%.

  3. link for the U6 by plopez · · Score: 5, Informative

    here's the link for the U6

    http://www.bls.gov/webapps/legacy/cpsatab12.htm

    should have posted it to begin with.

    --
    putting the 'B' in LGBTQ+
  4. Re:One question by pleappleappleap · · Score: 3, Informative

    I just bought some property in the Bangalore area. The condos I bought were a third the price they are here in the far New York suburbs, and if memory serves, the last time I looked in Silicon Valley, it was a good bit more expensive there than here.