Bay Area’s Job Market Showing Signs of Life
The Bay Area Council today announced that for the first time in 20 months, more Bay Area companies are planning to increase the size of their workforce than are planning layoffs, signaling a potential job market rebound, according to results of its quarterly Business Confidence Survey.
The responses of the 498 CEO’s and top executives in the nine Bay Area counties surveyed between January 27 and February 18, 2010, show that overall, 20 percent plan to increase their workforce within the next six months while 17 percent expect layoffs, and 59 percent predict no change. These results are in stark contrast to a year ago, when the Survey revealed that only 10 percent of companies were planning to hire, while 42 percent expected layoffs. The last time the Survey recorded a positive job market trend was in June, 2008.