Silicon Valley will suffer huge job losses in 2020, but tech gains – East Bay Times

SAN JOSE – Silicon Valley suffered huge job losses during 2020 affecting almost every industry except the tech sector, whose employers have managed small job gains despite coronavirus-related economic woes, shows a report released Tuesday.

According to the new report from Joint Venture Silicon Valley, a San Jose-based think tank, job losses in Silicon Valley have been so severe that they have overcome employment setbacks in the region during the dot-com debacle. .

However, while the overall job loss in Silicon Valley – defined as Santa Clara County, San Mateo County, Southern Alameda County, and Northern Santa Cruz County – has been dramatic, some industries have been hit far harder than others and some managed to actually get jobs, such as as a technician, according to the report.

“We have a history of two economies and a history of two upswing,” Russell Hancock, president of the Silicon Valley Joint Venture, said at a press conference to discuss the report.

During the one-year period ending June 2020, overall employment in the Silicon Valley geographic region fell by 8.9%.

However, jobs in infrastructure and community services: an economic term to describe jobs in retail, restaurant services, hotels …

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