Silicon Valley last year shrank at a level not seen since the dot-com bust, the second consecutive year that a record number of residents departed and the fourth straight year of population declines, according to an annual report.
A net total of 47,800 residents moved out of the region from July 2021 through June 2022, just shy of the record number of 48,300 who moved out in 2001 after the tech bust. That’s according to the Silicon Valley Index, an annual look at the health of the region.
Despite the population decline, housing in the region continues to be expensive. Median home prices still rose 7% to a record $1.53 million in Santa Clara and San Mateo counties in 2022, making houses there more expensive than in San Francisco for potentially the first time ever, according to the report.
Steve Levy, director and senior economist of the Center for Continuing Study of the California Economy, told MarketWatch that the return of foreign immigration is key. What does all this mean for tech, the industry that dominates the region, and its labor force? Some Silicon Valley residents have moved to other growing tech regions in the past couple of years, as Joint Venture’s previous indexes have shown.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
SAP cutting Silicon Valley jobs - Silicon Valley Business JournalTwo weeks after the company announced it would be laying off 2.5% of its workforce, it unveiled just how many it would cut in the Bay Area.
Baca lebih lajut »
Silicon Valley layoffs are a boon for tech-hungry farm equipment makersBig agricultural and construction equipment manufacturers in the American Midwest are on a mission to lure Silicon Valley tech workers who have been caught up in a wave of hiring freezes and layoffs, executives told Reuters.
Baca lebih lajut »
Globalgate Strikes Finance and Strategy Pact With Korea-Oriented Silicon Valley Investor Maum CapitalSilicon Valley investment firm Maum Capital Group has struck a strategic and financial alliance with Globalgate, the local-language film and TV production consortium assembled by Lionsgate. The mov…
Baca lebih lajut »
Silicon Valley developer ends hunger strike after eight daysHe launched a dramatic strike after the city of Sunnyvale halted his project. Now, he hopes to resume construction this week.
Baca lebih lajut »
Why Ouster CEO Angus Pacala thinks it will survive lidar industry shakeout - Silicon Valley Business JournalPacala spoke to the Business Journal as Ouster completed its merger with rival Velodyne — and announced a new round of layoffs.
Baca lebih lajut »
Minnesota developer Oppidan pitches redevelopment of aging industrial site in Fremont - Silicon Valley Business JournalThe existing warehouses, all built in the mid 20th century, were previously host to manufacturing tenants.
Baca lebih lajut »