Overall unemployment rate moved down to 4.5% with the biggest shift in Business Services, which gained 8,900 roles, based on the most recently available information published in December 2021.
Total employment in the San Francisco-Oakland-Hayward, CA market rose by 15,962 jobs in October and the unemployment rate decreased compared to the prior month by 20 bps to 4.5%. The national unemployment rate decreased by 30 bps over the same time to 4.3%.
- San Francisco-Oakland-Hayward, CA unemployment rate is 24 bps above the national rate which is a negative sign.
- Unemployment in the market is 330 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 3.1% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.2% . Key sectors include:
- Business Services: 518,600; +8,900
- Education & Healthcare: 360,900; +4,600
- Transportation & Utilities: 337,800; +5,300
- Government: 297,100; +6,000
- Restaurants & Hotels: 209,800; +700
- Financial Services: 140,800; +900
- Manufacturing: 140,100; -800
- IT & Development: 139,900; +800
- Construction, Mining: 126,100; +500
- Other Jobs: 72,300; +600
Data is based on the most recent 12 months available, through October 2021 (Data published December 2021 and reports created on December 2, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.