San Francisco Bay Area unemployment still rising
Unemployment in the San Francisco metropolitan area rose slightly to 9.5 percent in August from 9.4 percent in July, the state Employment Development Department reported Friday. The region, which includes San Francisco, Marin and San Mateo counties, had 5.4 percent unemployment in August. 2008.
Silicon Valley unemployment rose to 12 percent in August from 11.8 percent in July and 6.4 percent in August 2008.
Source: SFBusinessTimes
What do you expect when you send all the tech jobs to East India. Duh! It’s a no brainer as to why unemployment is so high in SF.
Did you read the entire article? They broke up the job losses into categories. Tech jobs are only a small percentage. The overall figures are better for SV compared to the state because there have been fewer job losses in the tech sector this time. The major sectors that have been affected are real estate & retail related.