Understatement of the year?
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- Published: Friday, 22 May 2020 09:00
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This morning we released our latest Institute report showing that Silicon Valley’s unemployment rate soared to an unprecedented 11.7% — higher than any other year on record. With 30% of our households unable to meet their basic needs without assistance BEFORE the pandemic, and nearly a quarter of all renters spending more than half of their gross (not net!) income on rent, a 12% unemployment rate is extremely concerning. Our residents are struggling, and facing seriously difficult decisions — like whether to pay their bills or feed their families.
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