Despite ongoing inflation and job cuts, the overall job market is booming -- both nationally and in the Bay Area.
It’s the 29th straight month of job growth even when tech companies have cut back.
"There's been all this talk of recession and downturn, and actually, we're OK," said Joint Venture Silicon Valley CEO Russell Hancock
And there are few better indicators of being OK than our economy adding a much better than expected 339,000 jobs in May, even as the federal reserve raised interest rates to slow the economy, and even as big tech companies laid off employees by the tens of thousands.
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Hancock says those layoffs only tell part of the local job story.
"Even at the same time people have been laying off, they've also been hiring, both things have been happening simultaneously,” he said. “We're hiring at a greater rate than we're laying off."
Among the hot spots is artificial intelligence. Where Silicon Valley companies are raising venture capital money by the millions, which they will use to hire more people.
