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Unemployment falls throughout Bay Area — but that was before Covid’s latest assault

Unemployment fell by more than a full point throughout much of the Bay Area between September and October, according to monthly data from California’s Economic Department.

Among the three counties that connect to the Peninsula, Santa Clara County’s unemployment rate fell to 5.9% from September’s revised rate of 7%, San Mateo dropped to 6% from 7.1% and San Francisco’s drop topped both of those at 6.9%, down from 8.4% in September.

But that’s recent history in the battle to recover from the Covid-19 pandemic.

The question for the future of that recovery is now focused on what happened Monday, the halfway point of November, when soaring daily new case rates across the state caused all three counties to be demoted in California’s four-color Covid danger level rankings. Santa Clara County fell to the bottom purple classification, and San Mateo and San Francisco dropped to red, next to the bottom.

The impact of those demotions is expected to hit November’s employment numbers in the way it restricts retail business activity through rules reducing the customer capacity of indoor businesses, particularly in the restaurant industry. Indoor restaurant dining was eliminated by Santa Clara County’s demotion and cut to 25% of normal capacity in San Mateo and San Francisco. Read more via SiliconValleyBusinessJournal

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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