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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 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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