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AI is booming on the West Coast. So why is unemployment so high there?
['Cnn Newsource']
KESQ
America’s tech companies are benefiting from the largest investment surge in history, according to the Bank of International Settlements — many of them headquartered on the West Coast.
And it’s not just tech companies, according to economists.
Meanwhile, that state’s unemployment rate has climbed steadily since the beginning of the year.
Matt Carter was laid off last year from his project manager job at tech firm Welocalize and has struggled to find a tech job in Portland, Oregon, ever since.
“Getting a tech job on the West Coast in a big city like Portland, Los Angeles, or San Francisco is kind of like winning the lottery at this point,” he said.