California is seeing record unemployment numbers, with the largest single month of job losses ever recorded and a 15.5 percent unemployment rate in mid-April, about a month after the state began sheltering-in-place due to the novel coronavirus pandemic. But the blow has been a little softer overall in Silicon Valley, local experts say. The unemployment...
Small businesses feel the brunt of shutdown in Silicon Valley and beyond
Hospitality, cafe and restaurant businesses and workers are being hit the hardest by the shelter-in-place orders, according to a new survey and report of more than 86,000 people across the country. Legislators and chambers of commerce have sounded the alarm about the impact of the pandemic-related shutdowns across the country on small businesses, but the...
Major layoffs in Silicon Valley hit Team San Jose, Goodwill and car dealers
Coronavirus-linked layoffs have soared in Silicon Valley in recent months, affecting more than 21,000 employees across 26 companies in March alone, according to a San José Spotlight analysis of data from the state’s Employment Development Department. Industries with the most layoffs were retailers, restaurants, hotels, the arts and entertainment sector, personal care services and gyms....
Coronavirus: San Jose legislator introduces bill to provide job-protected leaves
San Jose Assemblymember Ash Kalra introduced legislation Wednesday to allow Californians who are affected by COVID-19 to take a state-protected leave from their jobs, in addition to extending the leave by 12 additional weeks. The bill, AB 3216, would also allow employees to take a job-protected leave to care for a family member whose school...
Bay Area hiring dips 25 percent since coronavirus shutdowns: report
Hiring across the country is down significantly as the United States reels from the sudden impacts of the novel coronavirus, which has shuttered storefronts and office parks alike. Though some technology sectors have seen gains, the Bay Area hasn’t been spared, new data shows. The Bay Area has seen a 25 percent decline in hiring...
Plan unveiled for reopening San Jose small businesses
Plan announced by San Jose officials and regional business leaders would allow a host of retailers and other small businesses to offer outdoor services when stay-at-home order is lifted.
Survival and ruin: Economic experts discuss Silicon Valley’s outlook
If Rip Van Winkle fell asleep after the State of the Valley conference February 14, Joint Venture Silicon Valley CEO Russell Hancock thinks he would be shocked at how the economic outlook flipped 180 degrees in just two months. Hancock sat down Thursday with Santa Clara County Assessor Larry Stone and Silicon Valley Central Chamber of...
South Bay cities brace for budget cuts, layoffs after coronavirus
Governments across the country are bracing for furloughs, layoffs and service cuts in response to revenue shortfalls dealt by the COVID-19 pandemic, and experts and city officials expect the damages will be felt for some time. Findings from a National League of Cities and the United Conference of Mayors survey published this month reveal that...
Santa Clara County’s unemployment rate rose to 3.3 percent in March
Unemployment rates across California spiked last month following record lows across the state and Silicon Valley, according to data released Friday. Santa Clara County’s unemployment rate rose to 3.3 percent last month, according to the California Employment Development Department, which handles workforce services including Unemployment Insurance. While these preliminary labor market numbers lag several weeks, that’s...
Newsom, local officials tap business leaders to plan economic recovery
Though Californians are likely weeks away from seeing restrictions loosen around the statewide mandate to stay home due to the novel coronavirus, officials are making plans to jump-start the economy. California Gov. Gavin Newsom Friday announced a new task force to “pave the way toward a fast, safe recovery of jobs.” The Task Force on...