California Leads in Job Growth (San Diego, San Jose: sales, credit rating, houses)

[mongozx]

CBS Evening News:Tech Drives Job Growth


(CBS News) Holiday sales are one measure of the economy -- job creation is another. And in one very large state hard hit by the recession, employment prospects are beginning to brighten. CBS News correspondent Bill Whitaker has a few cases in point.
Brittany Dameron, 25, unemployed, with two degrees in advertising, diligently looked for work for a year.

"I was applying to a lot of agencies, changing my resume, really working on my cover letters, and I still wasn't getting the gig," she said.

But her fortunes changed in October when she walked through the doors and was offered a job at Digitaria, a high-tech, digital marketing agency that helps business take advantage of the digital revolution.

"We do everything from websites, iPad applications, mobile applications," explained Daniel Khabie, CEO of Digitaria. He said revenue is up 60 percent this year.

"We've hired 50 employees and we're looking to hire at least a minimum of another 20-plus employees going into the next year," said Khabie. "I wouldn't be surprised if we hire another 50, to be honest with you."

Companies like Digitaria are turning California's economy around. The country's largest state created more jobs than any other, adding 233,000 workers to the payrolls in the past year -- 6,500 in just the last month. The hot spots: high-tech centers where jobs are up in Silicon Valley, San Diego, San Francisco and Orange County.

Despite the growth, California still has the second highest unemployment rate in the country -- 11.3 percent. It's tied to manufacturing and construction, sectors hit hardest in the Great Recession.

Now digital-age companies could be key to California's recovery. Oliver Duncan found he was in high demand in high-tech. He left a job in New York and is now creative director at Digitaria.

"I had over four solid letter offers and I had a bunch of 'Hey, I'm really interested, let's take the next step,'" he said.

"We cannot find enough people and we're looking, looking constantly for more people," said Khabei.

Dameron: "It's a great feeling to not be asked that question anymore, 'How's the job search going?', and to just be able to say, 'I have a job.'"

It's been a long time since there's been economic news to smile about in California.This is the third month in a row the state has lead the nation in job growth.

[Fargobound]

The only problem I see with a lot of this job growth is it’s tied to a boom that’s going to pop. We’re already seeing it with lofty IPO’s for loser companies that don’t make much money or any at all.

[winkosmosis]

I know some people who work on the web 2.0 frontier, and it really sounds like a bubble. People create startups to get funding (get paid), and don't shed a tear when they fail. And they even consider it a badge of honor to have participated in a failed startup. These jobs are going to disappear when the capitalists funding the garbage in Silicon Valley wake up and realize Facebook was one in a million.

Here's an example of a nonsense startup.http://www.sponsorfied.com/about.php (broken link)
Ever heard of it? Nope, because it's just a BS company created to fizzle out.

[Californiaguy2007]

It's always nice to see something positive for California,but as usual their will always be something negative said as well.

I've said this many times before....California has multiple strengths that will keep it chugging along despite it's problems.

Happy Holidays Everyone :-)

[Fargobound]

Even Facebook is going to pop.


After they launch their IPO the stock will grow based on hype, but the technicals will start going stale. The shady Zuckerberg will find anyway he can to monetize user data, which will lead to a number of users leaving the site for something else. These companies products are easily replicated, they’re not building Model T’s.


California really need to diversify it's economy or it's going to be left in the dust in 40 years.

[technocrat]

California really need to diversify it's economy or it's going to be left in the dust in 40 years.[/quote]

Really! That's a very unqualified statement. Just in the San Jose and its surrounding region alone lies hunderds of companies, both start ups and matured, that are developing or have developed and marketing products that are ground breaking in varied areas of high technologies. Just a few of them are in the areas of:
1) Printable Storage/Backup 2)Chip design/Manufacturingw/emphasis on system-On-Chip(SOC), fabless, printed silicon electronics, 3)Digital Media, 4)Software/Services, 5)Networking, 6)Electric Vehicle,7) Internet TV, 8)Advanced Imaging Devices, 9)Nano Technolgy related 10)Advanced Wireless, 11) Biometric Sensors, 12)Solar/Cleantech, 13) Cloud Computing & Storage, 14)Smart Grid related, 15) Interactive Gaming, 16) Advanced Laser tunable devices, 17) Enterprise Flash Drive(EFD) related, 18) Medical Devices, 19) Bio technologies, 20)LED Lighting, 21)Solid State Optics, 22) Mobile Application, 23) Interactive Entertainment, 24) Advanced Video technologies.
These are just a few to mention. Hope this list is diversified enough for you...

[Fargobound]

I think you need to look at the bigger picture of what you’ve listed. If anything what you’ve listed could by called corporate monoculture. These companies typically are staffed with a certain college majors and a number of them are H-1B visa holders.

Manufacturing is now a dirty word in California. I do understand that certain things we may never be able to make in California like iPods and solar panels, but when we order bridge parts from China it’s pretty pathetic.

A healthy diverse economy has a broad spectrum of jobs, but bills like AB32 have succeeded in running a lot of those jobs out of the state. If Californian’s think a cube farm is economic diversity this state is in a lot of trouble.

Hey at least we still make a decent tomato.

[nullgeo]

Originally Posted by Fargobound

I think you need to look at the bigger picture of what you’ve listed. If anything what you’ve listed could by called corporate monoculture. These companies typically are staffed with a certain college majors and a number of them are H-1B visa holders.

Manufacturing is now a dirty word in California. I do understand that certain things we may never be able to make in California like iPods and solar panels, but when we order bridge parts from China it’s pretty pathetic.

A healthy diverse economy has a broad spectrum of jobs, but bills like AB32 have succeeded in running a lot of those jobs out of the state. If Californian’s think a cube farm is economic diversity this state is in a lot of trouble.

Hey at least we still make a decent tomato.

I see. Well, perhaps you will find the economy in Fargo sufficiently diversified for your tastes ... after all, they now have not only wheat but oil shale to boom on with. Funny how that state (N. Dakota) is doing so well with only its one traditional product (wheat) and now this new-fangled thing called oil shale ... booming. Then there's good old diversified Nebraska -- the #2 "Best Run State" according to a recent business survey ... Nebraska has this dazzlingly complex economy built on uncountable cornstalks ... each one, I presume, representing a unique venture. And one should not ignore how well Wyoming is doing, also ranking in the top three "Best Run" ... Wyoming with its, uh, antelope?

What a joke California is with only its world-leading computer / software development, investment banking (that goes far beyond Silicon Valley software), education, medicine, -- oh yeah and agriculture like no other state in N. America ... I could go on, but you know: it just doesn't add up to much of a future.

[Fargobound]

When I look at the hard stats in California, hanging out with the wheat and snow can’t be that bad.

We can’t forget all the juicy parts about California.

Credit rating: One of the lowest credit ratings among states.

Unemployment rate: 11.3 percent

California state budget: LOL the ax just fell again to the tune of $2 billion. (How many professional state jobs will vanish in this cut?)

Since 2007 more than 2500 companies have left California.

[nullgeo]

Originally Posted by Fargobound

When I look at the hard stats in California, hanging out with the wheat and snow can’t be that bad.

We can’t forget all the juicy parts about California.

Credit rating: One of the lowest credit ratings among states.

Unemployment rate: 11.3 percent

California state budget: LOL the ax just fell again to the tune of $2 billion. (How many professional state jobs will vanish in this cut?)

Since 2007 more than 2500 companies have left California.

Well nothing personal, bubba, but I am guessing you haven't lived in wheat and snow. (Yep, I sure have ... I include Minnesota, Michigan, and Maine in my past -- among other states.) You are welcome to it, of course.

The "juicy" parts of California haven't changed much over the years ... and will remain. What changed was: an inflated housing market crashed, nationally, and hit California hard -- as it did many other places. As this correction stabilizes, California will reassert its place as the most remarkably desirable 163,696 sq mi on the planet, with people knocking themselves out trying to figure out how to be among the lucky who live here.

California didn't become what it was for no reason ... and all those reasons are still in place -- with a lot of empty (and silly) houses now to fill back up.