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San Jose Job Growth Outpacing San Francisco

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(CBS)

SAN JOSE (KCBS) – When it comes to job growth, San Jose is the one shining light in the Bay Area.

A study by the University of Pacific Business Forecasting Center shows that non-farm payroll is expected to increase by 1.5 percent this year in San Jose, compared with just 0.5 percent in San Francisco.

“We’ve been fortunate to be the capital of Silicon Valley, the world’s center of innovation,” said San Jose Mayor Chuck Reed. “And our tech companies are doing very well. Many of them are very profitable and they’re growing. That helps our economy. Clean technology is one of those areas where we’re now up to 4,000 clean tech jobs just over the last few years. That’s a bright spot, growing faster than the rest of the economy.”

KCBS’ Mike Colgan Reports:

Mayor Reed said the city has seen a number of positive signs.

“We finished 2010 with employment growth for San Jose for the first time in years. We’ve also had building permits issued for new apartment building construction for the first time in years,” he said.

He said another positive is that a lot of companies are staying and growing in Silicon Valley.

The San Francisco economy was the biggest disappointment in 2010 according to the study.

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 This material may not be published, broadcast, rewritten, or redistributed.)

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