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Mixed signals for valley economy

San Jose Mercury News

Saturday 16 April 2005, 10:49 pm
Keywords: Computer Topics , News Articles

UNEMPLOYMENT RATE FALLS TO 5.8%, BUT JOB TOTAL LESS THAN LAST YEAR

By Margaret Steen, Mercury News

two reports -- unemployment numbers and a survey of local consumer confidence -- confirm that any recovery is still scattered at best.

Santa Clara and San Benito counties added 5,200 jobs from February to March, for a total of 857,300 jobs, according to a state report released Friday. But that number is down by 6,000 from a year ago. The unemployment rate for the two counties fell to 5.8 percent in March, down from a revised 6.3 percent in February, but that is partly due to people leaving the workforce.

Compared with a year ago, the largest gain was 1,800 jobs in the information industry, propelled by hiring by Internet service providers and Web search companies.

Statewide, the economic picture was brighter than in Silicon Valley. The unemployment rate fell to its lowest rate since July 2001: 5.4 percent in March, down from 5.8 percent in February.

http://www.mercurynews.com/mld/mercurynews/business/11411482.htm