I would disagree with the comment that the wireless high tech jobs in San Diego have been unscathed… Talk to former Motorola employees, former Kyocera employees, former Nokia employees, former Broadcom employees. Even Qualcomm is rumored to be doing stealth layoffs – numbers low enough to not be on the radar.
I think unemployment will be a factor. If only because I see coworkers with very large mortgages on their homes in CV and 4S, no savings reserves, who work for an employer who is still (according to 10Q filings) going to lay off thousands more by the end of the year. These friends will be hard pressed to keep paying their mortgage if they lose their job.
