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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 is a Media Publisher & Event Producer. She is CoFounder/CEO Silicon Valley TV She is the Executive Producer of FinTech Silicon Valley & organizes Bay Area FinTech meetup: Silicon Valley FinTech meetup & Blockchain Music meetup with almost 3k members. She has produced Silicon Valley Events for Investors & Startups 7 years. She video interviews venture capitalists & angel investors & FinTech experts. She partners with videographers to cover San Francisco Bay area startup conferences & meetups with livestreaming, video & foto packages Silicon Valley TV She is based in Silicon Valley & has been involved in online business for 14 years. She has been in small business for 46 years in Ireland, London, Canada & Australia. She also published a free ebook (the findings of 1 year research from VCs, angels & women founders) “Why are Women Funded Less than Men? a crowdsourced conversation” She was TheNextWomen‘s most prolific contributor of 2011. Silicon Valley TV has been noted as a platform for supporting high growth women led companies in Huffington Post

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