Overall unemployment rate moved down to 5.4% with the biggest shift in Restaurants & Hotels, which gained 5,600 roles, based on the most recently available information published in April 2021.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market rose by 16,831 jobs in February and the unemployment rate decreased compared to the prior month by 40 bps to 5.4%. The national unemployment rate decreased by 26 bps over the same time to 6.6%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 115 bps below the national rate which is a positive sign.
- Unemployment in the market is 270 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in February versus prior month by 2.6% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.9% . Key sectors include:
- Business Services: 237,700; +2,100
- Education & Healthcare: 168,700; +2,000
- Manufacturing: 167,900; +300
- Transportation & Utilities: 118,200; -600
- IT & Development: 107,100; -700
- Government: 91,400; no change
- Restaurants & Hotels: 59,600; +5,600
- Construction, Mining: 49,700; +500
- Financial Services: 37,800; +100
- Other Jobs: 21,200; +200
Data is based on the most recent 12 months available, through February 2021 (Data published April 2021 and reports created on April 9, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.