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	<title>AllThingsD &#187; employment rate</title>
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		<title>As Tech Job Cuts Mount, Layoff Rumors Pervade The Valley</title>
		<link>http://allthingsd.com/20081125/as-tech-job-cuts-mount-layoff-rumors-pervade-the-valley/</link>
		<comments>http://allthingsd.com/20081125/as-tech-job-cuts-mount-layoff-rumors-pervade-the-valley/#comments</comments>
		<pubDate>Tue, 25 Nov 2008 14:32:38 +0000</pubDate>
		<dc:creator>Eric Savitz</dc:creator>
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		<guid isPermaLink="false">http://voices.allthingsd.com/?p=6335</guid>
		<description><![CDATA[When the Internet and telecom bubble burst, Silicon Valley jobs evaporated: by 2005, California’s Santa Clara County--which includes San Jose, Palo Alto, Cupertino, Mountain View and other tech-focused towns--had given up more than 20 percent of its total job base, a loss of over 200,000 jobs. So how bad will it get this time around?]]></description>
			<content:encoded><![CDATA[<p>When the Internet and telecom bubble burst, Silicon Valley jobs evaporated: by 2005, California&#8217;s Santa Clara County&#8211;which includes San Jose, Palo Alto, Cupertino, Mountain View and other tech-focused towns&#8211;had given up more than 20 percent of its total job base, a loss of over 200,000 jobs. So how bad will it get this time around?</p>
<p>Well, here&#8217;s what we know so far. California&#8217;s overall employment rate hit 8.2 percent in October, up from 7.7 percent in September, to the highest level since September 1994. Now, that&#8217;s not just the tech industry hurting: the construction industry in the state has lost 69,500 jobs this year, for instance. In Santa Clara County, the jobless rate stands at 6.9 percent; San Francisco is lower, at 6 percent, while San Matero County, home to venture capital&#8217;s Sand Hill Road, is down at 5.4 percent. Slightly worse off are the East Bay counties of Alameda, at 7.1 percent, and Contra Costa, at 7 percent. The national jobless rate stood at 6.5 percent in October.</p>
<p><a href="http://blogs.barrons.com/techtraderdaily/2008/11/25/as-tech-job-cuts-mount-layoff-rumors-pervade-the-valley/">Read the rest of this post</a></p>
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