Silicon Valley employers' seasonal cuts push jobless rate to 12.4%

[Newsjock]

Source: San Jose Mercury News

Silicon Valley's unemployment rate spiked almost a full percentage point in January, but much of that reflects a typical post-holiday drop in retail employment and school hiring, labor specialists said.

The combined unemployment rate for Santa Clara and San Benito counties was 12.4 percent in January, up from a revised 11.5 percent in December, the state Employment Development Department said today. The valley shed 11,900 jobs as retail and clothing stores and schools recessing for winter breaks dropped 4,500 jobs.

... Manufacturing jobs were up slightly, with a monthly increase of 500, but the professional and business services sector dropped 3,100 jobs — nearly a third in of them in the high-tech areas of professional, scientific and technical services.

... From January 2009 to January 2010, the number of jobs in the valley has dropped by 5 percent, or 43,800 jobs. Some 13,000 of them are in clearly identifiable tech-sector jobs, including computer systems manufacturing.

Read more: http://www.mercurynews.com/top-stories/ci_14648077

[KamaAina]

1. And to think, I came here *for* a job

(not in tech, though)

No pressure... just don't screw it up... :scared:

[girl gone mad]

2. I don't think Obama has the spine to do what needs to be done.

[OhioChick]

3. It's not looking that way. n/t