May 21, 2021 – Joint Venture’s Institute for Regional Studies released analysis that shows a small, two-tenths of a percentage point decline in the regional unemployment rate between March and April 2021. This decline represents an additional 2,600 employed throughout Santa Clara and San Mateo Counties.
Q1 2021 - Released quarterly in partnership with JLL, the Q1 2021 report noted that, one year into the pandemic, commercial leasing activity in Silicon Valley was slow, with fewer than 100 transactions in total. A handful of large commercial buildings were completed despite the slowdown of region development overall since the start of the pandemic, and an impressive 15 million square feet remains in-progress.
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.
February 16, 2021 – The COVID-19 pandemic has affected every aspect of Silicon Valley’s economy and the greater community, according to the 2021 Index. From the health impacts of the virus, to its effect on employment, IPOs, childcare, hunger, and housing, the pandemic has plowed through every sector, often with long-term implications. As a timely addition this year, the Index includes a section devoted to the impacts of COVID.
Learn more about the Silicon Valley Index online at www.siliconvalleyindicators.org.
December 18, 2020 - Silicon Valley’s unemployment rate continued its gradual decline since the pandemic-high of 11.6% in April, decreasing by a fraction (0.8) of a percentage point to 5.1% between mid-October and mid-November, according to analysis released by Joint Venture’s Institute for Regional Studies. The November data reflects month-over-month upticks in retail jobs (specifically Clothing & Clothing Accessory, and General Merchandise Stores), and restaurant/food service jobs. Impacts of November restrictions still unclear.
November 20, 2020 - Silicon Valley’s unemployment rate slipped down by another 1.1 percentage points in October, according to analysis released today by Joint Venture Silicon Valley’s Institute for Regional Studies. Yet, as of mid-October, approximately 90,000 people remain unemployed in Silicon Valley.
November 13, 2020 - Silicon Valley’s eligible voter turnout for the November 3 General Election, based on results reported to-date, was at unprecedented levels. Preliminary numbers suggest an eligible voter turnout of 71 percent, compared to 62 percent in the 2016 General Election.
Q3 2020 - Released quarterly in partnership with JLL, the Q3 2020 report showed a significant decline in commercial leasing activity and a rise in office space vacancies near transit stations. Despite these and other pandemic-related effects on the market, the region is still churning out new commercial developments and an unprecedented amount remains under construction.
October 16, 2020 - Unemployment numbers are continuing to drop in Santa Clara County, reaching a post-Covid shutdown low of 7% for September, sixth lowest in California, according to figures just released by the Economic Development Department. Joint Venture’s Institute for Regional Studies released analysis of Silicon Valley’s unemployment rate through September along with the historical trend back to the year 2000.
October 14, 2020 - Joint Venture’s Institute for Regional Studies released a research brief illustrating how the region’s residents have fared during the pandemic, outlining the impact of the decline in employment on regional food needs, and the rapid response of emergency food distribution efforts. The brief was created in partnership with Second Harvest of Silicon Valley and Silicon Valley Food Recovery, an initiative of Joint Venture.
The Silicon Valley Institute for Regional Studies is the research arm of Joint Venture Silicon Valley, and is housed within the organization. Research topics focus on economic and community health issues within Silicon Valley and the greater Bay Area, as well as on broader regional issues.
Get comprehensive information and data about Silicon Valley’s economic and community health at siliconvalleyindicators.org.
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