SUNNYVALE, Calif., Oct. 31, 2016 /PRNewswire/ -- Despite the rattling effect of recent layoffs at a few tech firms in Silicon Valley, the downsizing has not deterred the surge of tech modernization.
According to the California Employment Development Department (EDD), "California [added] 30,000 jobs in September…unemployment rate holds steady at 5.5 percent."
Each quarter, West Valley Staffing Group (WVSG) surveys a wide range of Silicon Valley hiring managers about their upcoming hiring needs. The hiring managers come from many different industries, including high tech, manufacturing, electronics, finance, semiconductor, medical, aerospace, alternative energy, and more. Each participant is asked, "Do you expect your hiring needs to increase, remain steady, or decrease in the future?" This survey is unique and exclusive to Silicon Valley!
Over one thousand hiring managers were surveyed this quarter, with 89% predicting a hiring increase or expecting to remain steady during the fourth quarter of 2016. Only 11% of hiring managers expect their hiring needs to decrease.
"Downsizing workforces is always a spooky thought," said Charlie Allport, Executive Vice President of WVSG, "however, innovation and the promise of new technologies are spurring economic growth and will create new opportunities in the future."
In spite of the effects of recent layoffs at a small number of large employers, optimism continues to thrive thanks to continual technological development and progress. According to the US Bureau of Labor Statistics, employment rates overall have been consistently strong. The Bay Area's dynamic market and constant adaptation have solidified its place as the Tech Capitol of California.
For additional information about the economic data above, or to participate in future Silicon Valley Economic Surveys, call us at 408.735.1420, or visit us online at www.westvalley.com.
West Valley Staffing Group (WVSG), an independent and privately owned staffing agency, brings nearly 50 years of experience providing comprehensive staffing solutions - through four specialty companies. Established in 1968 as West Valley Engineering, the company was one of the first in the valley to offer temporary technical services to Silicon Valley companies. In 1984, Prostar Staffing was founded to provide clerical and administrative personnel to the growing number of companies in the area. In 1995, West Valley Technology and Accountants Now! were founded to satisfy the demand for specialized information technology and accounting professionals, respectively. Today, all four specialty companies fall under the umbrella organization, WVSG, which has offices in Sunnyvale, Pleasanton, and beyond.
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SOURCE West Valley Staffing Group