Josephine's Personnel Services, Inc.

Silicon Valley — Ready to Boom or Bust?

August 4th, 2011

Silicon Valley remains the largest and most influential high-tech centers in the world. It leads all other metropolitan regions in the United States in the significant economic activity it creates through technological innovation.

Since the 1960s, Silicon Valley has provided an ideal habitat for high-tech firms to be born and to grow. The products of these high-tech firms have improved business processes and models, generated economic growth, and improved standards of living around the globe. How are employment and wages holding up today, after the peak of the dot-com era, the ensuing dot-com bust, the resurgence of high tech and then the overall slump in the economy?

There is good news! Despite the flagging economy, labor force numbers are growing in the San Jose-Sunnyvale-Santa Clara region. According to data from the U.S. Bureau of Labor Statistics, the increases are small, but they exist. Unemployment, while not showing a steady decline, has trended downward in 2011. So while the area is not poised to boom, neither is it about to go bust.

According to the categories provided by the BLS, the three areas showing the most growth are Information, Manufacturing, and Education and Health Services. And let’s not forget the industry that gave the area its name: the word “silicon” in the term “Silicon Valley” refers to the key ingredient of semiconductors, which formed the technical basis for the computer-based high-technology economic climate that grew in and around San Jose, California, in Santa Clara County.

The agglomeration of high-tech industries that spread into neighboring Bay Area counties (Alameda, Contra Costa, San Francisco, San Mateo, and Santa Cruz) have made Silicon Valley synonymous with dynamic, technology-driven growth and continue to create a large and diverse base of high-paying jobs across the region.

All of this is good news for jobseekers in southern California, where despite the high cost of living and governmental disarray, there are still jobs to be found. To see how we can help you find the job of your dreams, contact Josephine’s Personnel Services today. We provide staffing services in Silicon Valley, San Jose, Santa Clara County and all of California.

Leave a Reply