Job Growth Slows In Silicon Valley: Think Tank

BAY AREA — A report released by a regional research institute said that growth in employment in Silicon Valley, which it says peaked at the end of 2016, has slowed.

According to Joint Venture Silicon Valley, government data showed that the region added 30,000 jobs in the second half of 2016, but losses in Santa Clara County this year have stopped growth.

The research institute said that recent major layoffs at Cisco Systems, Hewlett Packard, Oracle America and Ericcson might slow growth for the information products and services sector this year. The report said that
unemployment in the Silicon Valley reached a 17-year low of 2.8 percent in May 2017.

In terms of skill and wage, the report says middle-skill, middle-wage positions have added 100,000 new jobs in the region since mid-2010.

The wage gap between high-skill, high-wage jobs and low-skill, low-wage jobs was $91,000 per year, a gap that increased $4,900 in the past year.

The report considers Silicon Valley as all of Santa Clara and San Mateo counties and the cities of Fremont, Newark and Union City.

— Bay City News; Image via Shutterstock

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