Friday, November 17, 2006

Valley unemployment rate down to 4.2% - Silicon Valley/San Jose Business Journal:

Silicon Valley/San Jose Business Journal - November 17, 2006

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Valley unemployment rate down to 4.2%
Silicon Valley/San Jose Business Journal - 11:29 AM PST Friday

The Silicon Valley's unemployment rate dropped to 4.2 percent in October, down from last month's 4.5 percent and the year-ago's 5.2 percent, according to a report released Friday.

The latest figures from California's Employment Development Department show that the San Jose-Sunnyvale-Santa Clara metropolitan area was level with the state October unemployment rate of 4.2 percent, and slightly higher than the nation's 4.1 percent rate during the same period.

In San Benito County there were 23,500 people employed out of a work force of 24,600, for an unemployment rate of 4.8 percent. That compares to last year's 6.1 percent and last month's 4.7 percent.

In Santa Cruz County there were 138,400 employed out of a work force of 144,300, for an unemployment rate of 4.1. Last year's unemployment rate was 5 percent, and in September it was 4.3 percent.

In Monterey County there were 197,800 employed out of 207,100, for an unemployment rate of 4.5 percent. Last year's rate was 5.1 percent; September's was 4.7 percent.

Other findings in the statewide report:

* Government gained 2,700 jobs over the month, as local public schools (up 2,500 jobs) and state government education (up 200 jobs) experienced seasonal growth. Meanwhile, private educational services in colleges, universities and professional schools added 2,200 jobs seasonally.
* Trade, transportation and utilities gained 400 jobs, primarily in retail trade.
* Information gained 300 jobs over the month, reflecting additions in publishing industries, telecommunications firms and Internet service providers, each up by 100 jobs.
* Leisure and hospitality posted a smaller-than-usual seasonal net loss of 300 jobs, primarily in arts, entertainment and recreation.

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