Parts Of Silicon Valley Economy Showing Signs Of Life

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hard hat, construction, road closed

(CBS)

MikeColgan20100909_KCBS_0410r Mike Colgan
Mike Colgan, who has worked in Bay Area radio for more than 40 year...
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SAN JOSE (KCBS) – The economy may still be in a slump, but there are some positive signs coming out of Silicon Valley.

A thousand more construction jobs were added in June compared to last year.

“It’s great to see the people with the hard hats out on the site because the construction industry had such a high unemployment rate,” said San Jose Mayor Chuck Reed. “It’s good to see them back to work and money coming into our economy as they’re working. There’s a positive view of people making investment decisions, which will ultimately be good for our city revenues.”

KCBS’ Mike Colgan Reports:

San Jose has been steadily adding jobs, with the latest company to move to the city being SolFocus.

“We’re seeing the California economy for renewable energy picking up right now,” said SolFocus CEO Mark Crowley. “We think we’re in the right location to take advantage of that.”

Neil Struthers with the Building and Construction Trades Council said things are looking up.

“We’re starting to see more people go back to work,” he said.

Struthers said that instead of 50 percent, unemployment in the construction trades is now between 20 and 30 percent.

(Copyright 2011 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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