A spokeswoman declined to disclose how many layoffs would occur in Silicon Valley. Cisco, which is San Jose’s biggest employer, has been steadily selling off office buildings and land holdings over the last couple of years as it has shrunk headcount.
The U.S. economy earlier this year recovered all the jobs lost during the recession, but those new jobs pay an average of 23% less than the ones lost in the downturn, according to an analysis released Monday by the U.S. Conference of Mayors.
In a stunning development just 48 hours after Breitbart California published “262,” employees at Space Exploration Technologies Corporation (SpaceX) headquarters in Hawthorne, California filed a lawsuit claiming the rocket builder on or about July 21st violated California Labor Law by laying off up to 400 factory workers, or about 11% of the entire company workforce.
Middle-wage stagnation can damage consumer spending, dent career mobility, stall home buying and exacerbate a poverty rate that’s already the highest in the country, economists warn. Those concerns are amplified in a state notorious for a high cost of living. As more mid-tier jobs disappear, economists fear middle-class workers will be increasingly sucked into the ranks of the working poor. And they could crowd out those already working low-wage jobs, or drive their salaries down further.
According to the CalNonprofits organization, California nonprofits generate $260 billion in total economic activity every year, producing more jobs than the real estate, finance or construction industries. The groundbreaking report, titled “Causes Count: The Economic Power of California’s Nonprofit Sector,” was commissioned by the California Association of Nonprofits (CalNonprofits), the statewide policy alliance of more than 10,000 organizations.
The authors show that the South San Joaquin Valley has largely recovered from the devastating damage of the Great Recession and is on track for greater economic and community success. Even though the region is the state’s and nation’s agricultural base, it is more economically diverse than widely believed, with a wide range of non-agricultural industries, and even a significant sector of green energy.
It’s a purgatory sometimes called the gray economy. Although the official state unemployment rate dropped to 7.4% in June, 16.2% of Californians — or about 6.2 million — were either jobless, too discouraged to seek work, working less than they’d like or in off-the-books jobs.
That’s the highest rate in the country, tied with Nevada. The rate is higher, at 17.8%, in Los Angeles County, where nearly 2 million people aren’t fully employed.
Hiring by U.S. employers remained robust in July, if a bit slower than previous months, with a broad-based rise in payrolls extending a half-year streak of strong employment gains. . . The unemployment rate, obtained via a separate survey of households, ticked up to a seasonally adjusted 6.2% in July from 6.1% in June. The rise in part reflects an increase in the number of people looking for jobs, some of whom are now being counted as unemployed. The labor-force participation rate ticked up slightly in July, to 62.9% from 62.8% in June, though it remained near its lowest level since the late 1970s.
McDonald’s Corp. could be treated as a joint employer with its franchisees in labor complaints, according to a National Labor Relations Board legal determination that could have far-reaching implications for how restaurant companies deal with their workers.
With films like G.I Joe, The Butler and Enders Game shot in the Bayou State, last year it topped Film L.A.’s Feature Film Production Study as the number 1 location for motion picture filming. From 2002 to 2012 (the last year data was available), the industry created more than 14,000 jobs — more than half of which were between 2010 and 2012, according to the Louisiana Department of Economic Development.
Professional services jobs — engineers, architects, lawyers, accountants and consultants — are growing in California at more than twice the rate of overall employment since the recession ended in 2009, according to an analysis of state economic data.
The report from the Manhattan Institute for Policy Research shows earnings growth in the manufacturing sector in Silicon Valley is up almost 30 percent.
A recent Brookings report found that of the regions with the greatest income disparity only one, Atlanta, is located in a red-leaning state. These include San Francisco, Miami, Boston, Washington, D.C., New York, Oakland, Chicago and Los Angeles. The lowest degree of inequality was found generally historically more conservative cities like Ft. Worth, Texas; Oklahoma City; Raleigh, N.C.; and Mesa, Ariz. Income inequality has risen most rapidly in the probably the most left-leaning big American city of luxury progressivism, San Francisco, where the wages of the poorest 20% of all households have actually declined amid the dot-com billions.
In spite of a long-term decline in manufacturing employment, California maintains a large base of manufacturing capabilities and strengths in a diverse set of manufacturing industries, from food processing and furniture to aerospace and medical devices.
California’s unemployment rate dipped to 7.4% in June, a month in which the state finally recovered all the jobs lost during the recession.