Santa Clara County Closes in on Employment Record with another Strong Month
The South Bay County has gained jobs for a whopping 57 consecutive months.
May job data reveals a 4,100 job gain across the county, and is fewer than 20,000 jobs from the all-time employment record.
Tech sector jobs are responsible for the bulk of the growth, while construction and healthcare also saw respectable gains. Economists see this growth as solid and long term, not like the dot-com bubble which facilitated the areas longest period of growth before popping.
The County’s strong hiring has seen more people enter the job market, actually resulting in a slight rise in the county jobless rate, 4.3%, up from 4.2%. Statewide, the jobless rate also rose a tick, up 0.1% to 6.4%.
Experts believe there is still meat on this bone too, citing tech giants with big plans in the area, plus construction in San Francisco, and Oakland’s reemergence as a housing destination.