Mountain View Voice : Report: Silicon Valley jobs decline while pay increases
Despite record unemployment rates, some sectors of Silicon Valley’s high-tech economy continue to shine, according to a report released Wednesday.
“While the employment picture may sound a bit negative, the wage picture was much more sunny,” said Amar Mann, regional economist with the U.S. Bureau of Labor Statistics, who co-authored the report titled “After the Dot-Com Bubble: Silicon Valley High-Tech Employment and wages in 2001 and 2008.”
Mann said the six-county Silicon Valley region lost more than 85,000 high-tech jobs between 2001 and 2008, a decline of about 17 percent.
The region comprises Santa Clara, Santa Cruz, San Mateo, San Francisco, Alameda, and Contra Costa counties.
However, the average Silicon Valley tech worker’s salary grew by 36 percent during the same period, from about $97,000 a year in 2001 to $132,000 a year in 2008, Mann said.
By contrast, salaries nationwide grew by just 25 percent between 2001 and 2008, he said.
I don’t know about you, but is excellent news. This means that we’re finally getting rid of all the undesirable, ignorant, people from Silicon Valley.
Silicon Valley will be now the true center of the intelligent world. Seriously. If you’re not clearing $85,000 – please just leave. Please. You’re a disgrace to the Bay Area. Thank you.