Thursday, February 10, 2011

San Jose Job Growth Seen Outpacing San Francisco

In a sign of how the technology industry is driving certain parts of the Bay Area's economic recovery more than others, employment growth is projected to be higher this year in San Jose and its suburbs than in San Francisco and other Bay Area cities, according to a forecast from the University of the Pacific Business Forecasting Center. San Jose's employment growth also is expected to be higher than in California as a whole and in other big cities such as Sacramento. 

Fast-growing industries like high tech are concentrated in the San Jose area, while other cities' economies also depend on industries that have been slower to rebound, like financial services in San Francisco, according to the forecast. In 2011, nonfarm payroll employment is expected to grow 1.5% to 859,000 in San Jose, versus 0.5% to 921,300 in San Francisco and 1% to 14 million in California, according to the forecast.

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