Market Overview

Local Job Market Holding Strong Despite Tariff Changes

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Local Job Market Holding Strong Despite Tariff Changes

PR Newswire

SUNNYVALE, Calif., Aug. 29, 2018 /PRNewswire/ -- Tariff news may have certain regions of the country on edge, but a recent exclusive economic survey finds that Silicon Valley's job market is still in growth mode.

Local Job Market Holding Strong Despite Tariff Changes

Each quarter, West Valley Staffing Group (WVSG) surveys a wide range of Silicon Valley hiring managers about their upcoming business and hiring expectations. Hundreds of Bay Area hiring managers were asked, among other things, if they expect their hiring needs to increase, remain steady, or decrease during the upcoming fiscal quarter, and the most recent survey revealed that nearly 89% expect their needs to increase or remain steady. Charlie Allport, WVSG's Executive Vice President, says he is not surprised by the findings: "Even with the tariff changes that are looming or have already been enacted, the survey revealed that Silicon Valley is still in growth mode. The Bay Area is home to some of the most innovative, fastest growing companies in the country - and a robust workforce is what powers that growth."

The hiring managers surveyed by WVSG represent a diverse range of industries, including high tech, manufacturing, electronics, finance, semiconductor, medical, aerospace, alternative energy and more. When asked what level of growth they predict for their business overall in the next quarter, 98.5% said they expect their business to grow or hold steady. As Allport observes, "How the tariff issue will impact local industries over the long term remains to be seen, but the optimism revealed in this survey is a good indicator that companies here are positioned to thrive in the face of change."

WVSG's survey findings are also in line with a recent study released by California's Employment Development Department, which revealed that the State's unemployment rate has remained at 4.2% for three months running; the lowest unemployment rate since 1976.

For more information about the economic data provided above, or to participate in future Silicon Valley Economic Surveys, please call WVST at 408.735.1420 or visit www.westvalley.com.  

About West Valley Staffing Group
West Valley Staffing Group (WVSG), an independent, privately owned staffing organization, brings 50 years of experience providing comprehensive staffing solutions through four specialty companies: West Valley Engineering, Prostar Staffing, West Valley Technology and Accountants Now! Today, all four specialty companies fall under the umbrella organization, West Valley Staffing Group, which has offices in Sunnyvale, Pleasanton, and currently supports projects domestically in over 35 states. For more information, or to schedule an interview with the company's President and CEO, Mike Williams, please contact Mary Tran at mtran@westvalley.com.

 

West Valley Staffing Group logo (PRNewsFoto/West Valley Staffing Group)

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SOURCE West Valley Staffing Group

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