25Mar
The unemployment rate in the Silicon Valley has become alarming. The figures, as released by the employment department, were down by certain percent in the previous month though above the year-ago. Manufacturing posted an increase in its requirement with private educational and health services as well. Health care establishments boosted payrolls as well as private schools. Employment in social assistance firms showed good results too. However, financial activities doesn’t fare so well. Rental and leasing services, real estate and other financial related activities edged down
05Mar
Banks retrenchment caused turmoil in the financial market as it may consequently cause 10,000 jobs. Centre for Economic Business Research suggested just three months ago that job losses would reach only 6,500 this year. The forecast is a revision from what was predicted 3 months ago. And it is better a prediction. Banks that includes Citigroup, Morgan Stanley, Goldman Sachs, Deutsche Bank and Merrill Lynch has already cut on their job requirements. Statistics showed in the city history that banking jobs were cut off in the 1992 recession and 2002 and this prediction of retrenchment is quite low as compared.
