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Employment improvement slows. Can we assume all the old jobs will return?

Unemployment numbers are continuing to drop in Santa Clara County, reaching a post-Covid shutdown low of 7% for September, sixth lowest in California, according to figures just released by the Economic Development Department.

The rate is 7.1% for Silicon Valley, which is defined as Santa Clara and San Mateo counties by Joint Venture Silicon Valley. Only Marin County in the Bay Area had a lower unemployment rate than Santa Clara County at 6.5%.

The improvement was driven by an increase in 2,700 jobs – up 7.6% – in state and local government education, which means some school teachers were returning to work.

Nevertheless, the rate of improvement is flattening somewhat. In August the rate was 7.5% in Silicon Valley, meaning less than half a point better, against the July-August decline of minus two points and the June-July decline of 1.3 points.

One month’s data doesn’t mean the improvement numbers are grinding to a halt. Business sectors open and close quickly due to Covid rules changes or outbreaks that aren’t

“But the truth is we’re in very uncertain times,” said Rachel Massaro, research director of the Silicon Valley Institute for Regional studies, which issues a monthly analysis of the EDD’s numbers. Read more via BizJournals

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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