Silicon Valley Sees Increase In Job Prospects

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SAN JOSE (KCBS/AP) – The nation’s unemployment rate dropped to 9.4 percent last month, its lowest level in 19 months. That was because more people found jobs, but also because some people gave up on their job searches.

The Labor Department says employers added 103,000 jobs in December, an improvement from November’s revised total of 71,000 but far below most analysts’ expectations.

KCBS’ Mike Colgan Reports:

Once unemployed workers stop looking for work, the government no longer counts them as unemployed.

Through all of 2010, the nation added 1.1 million jobs, or an average of 94,000 jobs a month.

The news appeared to be slightly more positive locally, specifically in Silicon Valley.

In fact, some San Jose companies said they planned to hire in 2011. Many of those new hires were expected to be recent college graduates, which was especially welcome news for younger job-seekers.

Some of the Silicon Valley hiring was expected to cover international employees.

(© 2011 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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