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Los Altos Has the Lowest Silicon Valley Unemployment Rate

The countywide unemployment rate in February was the best it's been for the month in the past three years, and better than the statewide average.

 

The unemployment rate in the South Bay is on a downward trend, according to data released Friday by the state Employment Development Department.

The February unemployment rate for the combined Santa Clara and San Benito counties was 7.6 percent, the lowest it's been in more than two years.

Santa Clara County's unemployment rate came in at 7.4 percent, well below the average for all of California (9.7 percent) and national average of 8.1 percent.

Los Altos and Saratoga, are both at 3.7 percent unemployment, the lowest in the county.

Job growth is happening, the state data shows. Between January 2013 and February 2013, combined employment in the South Bay counties of San Benito and Santa Clara grew by 6,600 jobs to reach 919,200, according to the EDD.

The unemployment rate was just above 6 percent in Campbell. Both Los Gatos and Cupertino reported unemployment rates of 4.8 percent. 

Santa Clara County Unemployment Data, Feb. 2013 Area Unemployment Rate # of People Employed # of Unemployed Campbell 6.3% 22,200 1,500 Cupertino 4.8% 24,500 1,200 Gilroy 11.2% 19,600 2,500 Los Altos
3.7% 13,000 500 Los Gatos
4.8% 15,500 800 Milpitas 7.6% 30,900 2,600
Mountain View 5.4% 42,000 2,400 Palo Alto 3.9% 32,000 1300 Saratoga 3.7% 13,600 500

Check out the PDF above for more details about local job trends.

Statewide, California’s unemployment rate decreased to 9.6 percent in February. That's down 0.2 percent from January. The year-over-year change (February 2012 to February 2013) shows an increase of 293,800 jobs, or up 2.1 percent.

The unemployment rate is derived from a federal survey of 5,500 California households.

How is the job market in the Silicon Valley? Were you looking for work in February? Did you find a job? Tell us in the comment section below.

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