Overall unemployment rate moved down to 3.5% with the biggest shift in Transportation & Utilities, which gained 6,600 roles, based on the most recently available information published in February 2022.
Total employment in the San Francisco-Oakland-Hayward, CA market rose by 10,319 jobs in December and the unemployment rate decreased compared to the prior month by 30 bps to 3.5%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- San Francisco-Oakland-Hayward, CA unemployment rate is 19 bps below the national rate which is a positive sign.
- Unemployment in the market is 340 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in December versus prior month by 3.9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Business Services: 525,000; +3,000
- Education & Healthcare: 364,900; +1,000
- Transportation & Utilities: 352,800; +6,600
- Government: 300,300; -700
- Restaurants & Hotels: 211,400; +1,200
- IT & Development: 142,100; +1,200
- Financial Services: 141,600; +900
- Manufacturing: 141,100; +1,000
- Construction, Mining: 122,600; -2,200
- Other Jobs: 75,200; +800
Data is based on the most recent 12 months available, through December 2021 (Data published February 2022 and reports created on February 4, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.