Tuesday, September 26, 2006

Silicon Valley on the Rebound

Silicon Valley is rebounding - a good sign for the future of Northern California........

Valley jobs keep climbing

Silicon Valley's economy continued to turn in modest job growth in August -- a heartening sign of the region's ongoing recovery from the tech bust of 2000, economists said.
The California Employment Development Department said the addition of 2,600 jobs in Santa Clara and San Benito counties -- a gain of 0.3 percent from July -- marked the first time since 2000 that the region's employment had climbed each month since January.....

Steven Cochrane of Moody's Economy.com found another encouraging note in ``the best January-to-August showing since 2000.'' The state revised the region's non-farm job numbers for July upward by 2,000 jobs, from 873,100 to 875,100. ``That's another good indicator,'' he said. Earlier this year, the EDD had revised the previous month's job gains downward for three consecutive months.....

The unemployment rate in the San Jose-Sunnyvale-Santa Clara metropolitan statistical area -- a region that also encompasses San Benito County -- was 4.7 percent in August, down from 5.0 percent in July 2006 and 5.4 percent in August 2005, the EDD reported.

By Scott Duke Harris
Mercury News

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