Most big-time CEOs couldn't even pay their maids on $500,000 a year, but that won't stop President Obama from restricting their salaries.
There's no economic doom and gloom for Silicon Valley tech workers, those who who still have their jobs, that is.
The latest report from the Bureau of Labor Statistics on the health of Silicon Valley shows tech workers doing better now than they were during the dotcom boom -- much better.
"While the employment picture may sound a bit negative, the wage picture was much more sunny," said Amar Mann, regional economist with the U.S. Bureau of Labor Statistics, who co-authored the report titled "After the Dot-Com Bubble: Silicon Valley High-Tech Employment and wages in 2001 and 2008."
The BLS, part of the Department of Labor, says the average technology worker in South Bay area made $35,000 more per year in 1998 than in 2001. The greater pay means technology firms have their largest payrolls ever, pumping $60 billion into the economy -- far more than in the height of the Internet boom in 2000-2001.
The government bureau does acknowledge, however, that the number of people employed in the technology heavy region is far less. As many as 85,000 jobs may have been lost since the beginning of the decade, according to the report.
Among other findings in the report:
Bay City News contributed to this report.