Silicon Valley Q4 2009 Economic Forecast Survey ResultsOct 13, 2009: SILICON VALLEY ECONOMIC FORECAST SURVEY RESULTS
Greater part of companies report steady or increased hiring needs in Q4
SUNNYVALE, CA (October 13, 2009) – The greater part of Silicon Valley employers look forward to their hiring needs remaining steady or increasing in Q4, according to the West Valley Staffing Group Economic Forecast Survey.
West Valley Staffing Group (WVSG), surveys an assortment of hiring managers throughout Silicon Valley each quarter about their upcoming hiring needs. The hiring managers come from many industries, including high tech, alternative energy, manufacturing, etc. Each participant was asked, "Do you expect your hiring needs to increase, remain steady, or decrease in the next quarter and beyond?"
Nearly three-quarters (70%) of the companies surveyed believed their hiring will either remain steady or increase in Q4 , in comparison to 63% last quarter…which is an 11% increase! Thirty percent said their hiring may decrease…although that is still an improvement from 37% last quarter.
While this isn't the greatest news, it’s still quite an improvement from the first half of the year. The percentage of companies reporting increased or steady hiring needs has improved by approximately 19% from the first half of the year.
“While the current unemployment rate is the highest it’s been in years, there is still some hope for job seekers,” says Mike Williams, President and CEO of West Valley Staffing Group. “The seasonal holiday ramps have begun in addition to select industries beginning to hire again. Silicon Valley’s job market could begin to recover in the first half of 2010.”
For additional information about the statistics above, or to participate in the next Silicon Valley
Economic Forecast Survey, call us at 408.735.1420 or visit us online at www.westvalley.com.
West Valley Staffing Group (WVSG), an independent and privately owned staffing agency, brings over 40 years experience providing comprehensive staffing services and solutions - through four specialty companies. Established in 1968 as West Valley Engineering, the company was one of the first in the valley to offer temporary technical services to Silicon Valley companies. In 1984, Prostar Staffing was founded to provide clerical and administrative personnel to the growing number of companies in the area. In 1995, West Valley Technology and Accountants Now! were founded to satisfy the demand for specialized information technology and accounting professionals, respectively. Today, all four companies fall under the umbrella organization, WVSG, which has offices in Sunnyvale, Pleasanton, and beyond.
West Valley Staffing Group conducts extensive research on hiring and employment trends through our ongoing surveys of executives and hiring managers. Please contact Mary Tran for more information:
West Valley Staffing Group
390 Potrero Avenue
Sunnyvale, CA 94085
Media Contact: Mary Tran
(408) 735-1420 ext. 3023