Profits, not jobs, on the rebound in Silicon Valley

CNET News.com is carrying a story focusing on the improved profits that the seven largest companies are seeing are not being transferred in an increase in job opportunities. A larger question is whether companies are keeping their main brain trust in Silicon Valley, but hiring the lower level positions elsewhere.

Compared to other economic cycles, Silicon Valley is losing jobs rather than increasing jobs. This brings up the question as to whether the jobs are moving elsewhere within the US or if they are being moved overseas. This is the first article I've seen that focuses on the IT job recovery taking place elsewhere than the US other than articles that focused solely on the outsourcing trend, which I've felt was on the down side.

This will be a trend that is worth watching closely.