Tech boom has slowed, but there are still more Silicon Valley jobs than before the pandemic

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A new report says Silicon Valley economic indicators are mixed, despite layoffs. Population decline has reversed and overall jobs are up.

We’re a big state with big challenges. Each morning we explain the top issues and how Californians are trying to solve them.One weekly email, all the Golden State newsGet the news that matters to all Californians. Start every week informed.Meta CEO Mark Zuckerberg speaks during the tech giant's Connect developer conference in Menlo Park on Sept. 27, 2023. Photo by Godofredo A.

“We’re not booming, but we’re not shrinking,” Russell Hancock, chief executive of Joint Venture Silicon Valley, which produces the annual index, said in a press briefing this week. Joint Venture is a nonprofit think tank supported by Bay Area business, labor, government and academics. Its employment numbers are based on state data.The combined market capitalization of publicly traded companies in Silicon Valley and San Francisco climbed to a record-high $14 trillion this month, the report says.

“It’s important to the state and nation that the main Silicon Valley economy be healthy,” Levy said. “We produce goods and exports and income and tax revenue.”

 

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