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Silicon Valley unemployment reaches 6.6 percent

Posted on Sunday, September 28 2008 @ 16:11:16 CEST by

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.



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