Silicon Valley is a bastion of engineering and ingenuity in the United States, but even it could not withstand a rash of layoffs due to changing economic conditions. Overall, the region experienced a sizable decrease in employment, but payroll
numbers continue to improve for those that remain, the San Jose Mercury News reports.
Despite a drop in the total payroll in Silicon Valley, the average employee salary increased to $98,165. Overall, Santa Clara County, California, saw a 5.6 percent ($5.2 billion) decrease in total payroll, according to statistics from the U.S. Bureau of Economic Analysis.
The payroll for the entire region dropped from $92.7 billion in 2008 to $87.5 billion in 2009. However, the average salary climbed 0.7 percent from $97,250 in 2008, the paper detailed.
The figures, however, do not represent the deep cuts experienced by local industries. Computer manufacturing wages dropped 6.9 percent. Meanwhile, professional scientific and technical services pay fell by 8.6 percent. Non-internet publishing wages dropped 12.7 percent and construction decreased 20 percent.
Nationally, average employee pay fell 3.2 percent this year, though average payroll numbers increased 1.2 percent to $56,962 per year.
Unique views: 1,549
Total views: 1,549
All data and information provided on this news blog is for informational purposes only. Infinisource makes no representations as to accuracy, completeness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. Information regarding employment suits and other legal action is not updated after publication, and may not be current.