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Coronavirus: California jobless claims fall to seven-month low, best level since shutdowns began

Unemployment claims in California are the fewest since March 21

Unemployment claims in California fell to their lowest levels since coronavirus-linked business shutdowns began in March, a Thursday report showed, marking a key milestone on the recovery path for the state’s feeble job market.

California workers filed 158,900 first-time unemployment claims last week, down about 17,200 from the prior week, the U.S. Labor Department reported Thursday.

The decline comes as business shutdowns ease, and the employment picture could further improve in coming weeks.

“With four Bay Area counties moving to less-restrictive tiers, that will create some job growth in the near term,” said Stephen Levy, director of the Palo Alto-based Center for Continuing Study of the California Economy.

Still, even with the decline in claims, California faces slow job growth, lagging the nation in recovering jobs lost during the pandemic. In September, the unemployment rate was 11 percent in California, far higher than the U.S. jobless rate of 7.9 percent.

Nationwide, initial unemployment claims also improved to their lowest levels since mid-March. Read more via SiliconValley

Pemo Theodore

Pemo Theodore is a Media Publisher & Event Producer and a great people connector.. She is Founder/CEO Silicon Valley TV which has served the San Francisco Bay Area for 11 years! She has produced Silicon Valley Events for Investors & Startups for 9 years. Pemo loves to video interview venture capitalists & founders to engage the human behind the success stories.. She has been Executive Producer of FinTech Silicon Valley for 5 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto. She believes in learning through a great discussion with experts in the domains. Pemo has a talent to bring the right people together and is an incredible networker. Pemo's events have been seen as supporting Venture Capitalists & Angels in sourcing great deal flow from startups who attend her events. Many founders have received funding through meeting investors at her events. Her favored medium is visual media and she has built up a great body of work of videos of panels & interviews in Silicon Valley.startup ecosystem.

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