Silicon Valley/New York City : Job losses slowing?

According to USA Today, job losses in Silicon Valley, while continuing, are slowing from the pace of the previous 2 years. The valley and San Francisco together have accounted for nearly one of every seven jobs cut nationwide in the past two years. The only region to lose more jobs than San Jose has been New York City, where 186,000 jobs were cut in the past 2 years. Also, more people have been moving out of the region than moving in.
According to a recent US Council of Mayors report, overall employment growth in the 20 largest metropolitan areas in 2003 is predicted at 0.1 percent with nine of the areas experiencing either no job growth or continued job loss. That figure is a significant downward revision from a January report, which predicted a job growth rate of 0.9 percent this year