SILICON VALLEY, CA – The unemployment rate for the Silicon Valley reached 10% in February, the highest since 1990, according to a report from the California Employment Development Department.
In the past 12 months, the region has lost 26,300 jobs, or 2.9%. The EDD report states manufacturing dropped 2.8% from last year, and semiconductor employment declined 8.8%. PCB manufacturing had an 18.2% drop.

Monthly job losses in manufacturing were 1,900, with nearly three-quarters in computer and electronic products, according to the report. As the economy continues to sag, a drop in personal computer demand is forcing many chip companies to cut jobs.
Despite the double-digit figure, job losses, percentage-wise, are less than many areas of comparable size, said Stephen Levy of the Center for Continuing Study of the California Economy. He adds the long-term outlook for the region is positive.
“It won’t be this year, but Silicon Valley looks to be in a strong position for a national agenda that’s moving toward the application of technology and creativity to the world’s problems,” he said.

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