Wanna Job? Move to Silicon Valley

Silicon Valley

Ah, 2004. U.S. unemployment was a mere 6% and the average home price reached $264,540. 2004 was a time when many people lived well and earned more. Well today, many industries are either down and out, or out altogether, and many cities throughout the U.S. still have high unemployment rates. Silicon Valley is an exception.

Bloomberg reports that Silicon Valley employers rebounded from the recession by adding 12,300 positions in 2010, though the total number of jobs is only back to 2004 levels, according to an annual economic report on the region.

The study, released Februray 14, 2011, by Joint Venture: Silicon Valley Network and Silicon Valley Community Foundation, also found per- capita income stabilized last year, at $62,400 — the same level as in 2005. Meanwhile, the region is still reeling from cutbacks in government jobs and programs, according to the report.

“The good news is the private sector is doing its thing — don’t ask me how they’re doing it, they’re defying gravity,” Russell Hancock, chief executive officer of Joint Venture, a nonprofit group in San Jose, California, said in an interview. “The problem is the public sector is slammed.”

Google Inc., Facebook Inc. and a new crop of social- networking startups are stepping up hiring, helping offset government cuts and the shift of computer-hardware jobs to lower-cost regions. Google is adding 6,000 jobs worldwide this year, and Facebook plans to boost its workforce by 50 percent annually. The social-networking giant will move its headquarters to Menlo Park from nearby Palo Alto to accommodate the growth.

One of the companies adding employees was Apple, Inc. The Cupertino, California-based company increased its workforce by 36 percent California-based to 46,600 as of September 2010. Apple also reported having 2,800 full-time temporary workers and contractors around this time, up from 2,500 in 2009.


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