Silicon Valley unemployment reaches 6.6 percent

Posted on Sunday, September 28 2008 @ 16:11 CEST by Thomas De Maesschalck
PC Authority reports unemployment is rising in Silicon Valley as the tech industry is forced to get more efficient in these rough economic times.
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.

Various South Bay counties also recorded month-over-month job losses in trade, transportation and utilities.

In addition, the area lost approximately 1,200 jobs related to the faltering financial sector, including eliminated positions in mortgage companies and banks.


About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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