subject: Vanished Jobs In The High Tech Sector Returning To California [print this page] Firms in Silicon Valley are going through a hiring frenzy that has not been witnessed since ten years ago during the time of the Internet bubble. The technology industry is resembling a heavenly oasis in the sea of despair as entrenched companies and new ones alike are hiring with aggression and courting prospective staff. The fierce competition is compelling employers to dangle temptations like iPads, shuttle service commuting, natty cubicles and meals to tap the best talents in social-media, web designing, product designing, data crunching, analysis, management and engineering.
This surge in hiring in California could indicate an improvement in the health of the general economy said Jesse Harriot of Monster.com (chief knowledge officer).
It is anticipated that by the close of the current year 148,000 jobs in the tech field would be added said Sophia Koropeckyj of Moodys Analytics. During the period stretching from 2008 second quarter and 2010 first quarter (the period of economic gloom) tech jobs numbering 308,000 vanished.
For the non-tech segment things are not quite upbeat. Many of the employers are sitting on their cash and not expanding or employing. Last February there were in the tech job sector 6.1 million posts an increase of 2.4% from 2010 February.
Keith Rabois of Square COO said, It is an incredibly competitive marketplace for (tech) talent. He was comparing this period with the dot.com hysteria of the beginning of the decade. Since his joining in the mobile service payment section 8 months previously the number of employees has shot up from 25 to 80. By the close of this year it is hoped that the employees will number 150. Square is taking up designers and engineer who will in the long run be able to start off their own firms.
Pepped up by the technology sector California by itself saw an increase of 100,000 jobs last February bringing down the rate of unemployment from 12.4% noted in January to 12.2% in February as per the findings of California Economic Development Department.
In San Francisco city the number of jobs is touching a record of 34,116 that had been reached in 2000 at the peak of the dot.com boom. In 2010 there were 32,180 tech jobs in San Francisco according to the calculations of Jones Lang Salle, consultant in real estate matters. In 2010 the proportion of workers in the tech segment in San Francisco was 17% as compared to 14% in 2000.
As per Craiglist nationally tech jobs went up by 30%.
