Silicon Valley Leads The Nation In Job Growth
SAN JOSE (KCBS) – A new government study shows Silicon Valley coming out on top when it comes to job growth, and economists are predicting that the hiring could spread across the Bay Area and the state.
Over the past 12 months the South Bay job market grew by 3.2 percent according to the Bureau of Labor Statistics. That's nearly triple the US rate, and almost double California's rate. Most of that growth is thanks to high-tech hiring.
"Google and Apple, LinkedIn and hundreds of other startups," said Stephen Levy, director of the Palo Alto-based Center for the Continuing Study of the California Economy. "The tech surge is beginning to spill over too, so you see restaurants that are full, and stores that are becoming more full."
KCBS' Matt Bigler Reports:
While some economists predict South Bay job growth will spur hiring across the Bay Area and California, others say the state's unemployment rate will remain around 10 percent beyond next year due to the sluggishness of the overall economy.
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