In the first quarter of 2011 California added 90,600 jobs, which was an increase from 82,600 over all of 2010. Just a few weeks ago California’s deficit was an astounding $26 billion, but the state recently cut $11 billion. If this trend keeps going, it could potentially shave off another $6 billion. The added jobs in the state are making it a reality that one day, California might actually be able to get out of debt – and it might be sooner than everyone thought.
This drastic improvement comes largely from the tech industry. Information technology jobs grew by 5.3% in March, outpacing all other industries. This is affecting the San Francisco Bay area and the Silicon Valley with many local companies doubling and even tripling their workforce. This is good news for the technology industry, and for California.
To read the full article visit The Wall Street Journal.