Whenever there is a jump in new unemployment claims one has to love the main stream media trying to spin it away. This time it's Hurricanes.
For the week ended Sept. 27, seasonally adjusted first-time claims for unemployment benefits rose 1,000, to stand at 497,000 -- the highest since late September 2001
In Silicon valley, the figure stands at 6.6 percent.
Venture Capital which funds start up companies is expecting (hasn't happened quite yet) a spending squeeze.
The number of Silicon Valley jobs was down 8,200 in August from this year's high point. Unemployment hadn't rebounded to its highs of this decade after more than 100,000 jobs were lost from 2000 to 2002, and the region doesn't face Wall Street's risk of losing finance jobs. As many as 40,000 of those jobs may be lost in New York
Unfortunately none of these articles mention outsourcing of jobs or insourcing cheap labor from other countries.