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Sunday, Aug 14, 2022
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Valley Unemployment Hits Record Low

California State University, Northridge researches have reported that the Valley’s economy registered a record low number of unemployment claims for the month of October, evidence that they claim displays that the Valley’s economy is on a strong growth path. According to figures released by the California Employment Development Department and assembled by the San Fernando Valley Economic Research Center at CSUN, reported that unemployment insurance claims filed in the area fell to a low of 12, 961 claims. According to Daniel Blake, the center’s director, the claims show that the Valley economy is continuing to expand its job base and absorb people from the unemployment rolls. The record low October claims number comes on the heels of a rapid downward movement in unemployment insurance claims in the Valley that began in the first quarter of 2004. In October, the UI claims number fell below the previous record low, set during the Valley’s economic recovery during the 1995-2000 period. The previous record claims number of 13,526 was achieved in November 200 after a prolonged economy recovery from the early 1990s recession and before the 2001 recession took hold.

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