June 18, 2021 – Silicon Valley’s unemployment rate continued in a slow downward trend into May, reaching 4.6%. Joint Venture’s Institute for Regional Studies released analysis that shows a significant improvement in the region’s unemployment rate since the pandemic-high of 12% in April 2020. Month-over-month declines have been small. Between April and May, the rate declined by three-tenths of a percentage point, which represents approximately 3,630 fewer unemployed workers throughout Santa Clara and San Mateo Counties.