"Unemployment drops to 10.7 percent as 4,800 jobs are added in October"
Silicon Valley employers added jobs in October, and the unemployment rate in the San Jose metro area dropped to 10.7 percent. By contract, the combined unemployment rate in Santa Clara and San Benito Counties was 11.2 percent in September and 11.8 percent in October 2009.
Employers in the two counties added 4,800 jobs in October, with big seasonal gains in public and private educational services. The number of jobs in the professional and business services and manufacturing sectors were up more than usual for the month.
The total number of jobs in the San Jose-Sunnyvale-Santa Clara metro area was 858,300 up 0.5 percent from a year earlier. Manufacturing led the way, expanding by a net 4,000 jobs over the year. Within manufacturing, most of the gains were by computer and electronics makers.
Statewide, the unemployment rate was unchanged at 12.4 percent, although employes added 39,000 nonfarm payroll jobs. By contrast, the U.S. jobless rate was 9.6 percent in October.