Are you looking for a job but don’t know where to turn? Are you tech savvy? Look no further than Silicon Valley! FOX Business Network’s Shibani Joshi joined Varney & Co. this morning to explain how companies in the technology sector are playing a significant role in America’s employment recovery.
Moody’s estimates that 150,000 technology jobs will be created this year, and if those predictions come true, it would mark the industry’s biggest hiring spree in more than a decade. Signs of growth have already become visible; in February, there were approximately 6.1 million technology jobs in the U.S., up 2.4% from February 2010.
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According to Joshi, a surge in hiring in the technology sector may have the potential to put a dent in the country’s 8.8% unemployment rate.
“The fact that college graduates can get jobs, and can get jobs in Silicon Valley, is a good indicator of growth coming back to the United States,” she said. “The tech sector is starting to hire, and when you see that happen, you start to see a ripple effect in local economies.”
Joshi noted that some of the companies hiring include Apple, Google, Facebook, Zynga, Adobe, Foursquare and eBay. The increase in hiring is a sign of recovery in the $805 billon for the technology industry which lost more than 300,000 jobs between 2008 and 2010.
While hiring may be up, Joshi says not every type of tech job is available.
“They’re predominantly software engineers, product managers, computer science professionals,” said Joshi. “The three hot sectors right now that are really seeing big booms are social networking, social media and the cloud.”