April 16, 2021 - Joint Venture’s Institute for Regional Studies released analysis that shows late 2020 economic restrictions, along with a wave of COVID-19 cases contributed to an unemployment rate reaching nearly 6% in December. Since then, the region has experienced a gradual decline to 5.1% in March.
Silicon Valley’s 5.1% unemployment rate is less than half of the April high (11.6%), but remains higher than the 3.2% of mid-March last year.