Overall unemployment rate moved down to 4.7% with the biggest shift in Restaurants & Hotels, which gained 5,500 roles, based on the most recently available information published in June 2021.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market rose by 9,974 jobs in May and the unemployment rate decreased compared to the prior month by 30 bps to 4.7%. The national unemployment rate decreased by 25 bps over the same time to 5.5%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 80 bps below the national rate which is a positive sign.
- Unemployment in the market is 670 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 2.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:
- Business Services: 240,400; +200
- Education & Healthcare: 173,800; +400
- Manufacturing: 168,800; +100
- Transportation & Utilities: 117,600; -300
- IT & Development: 108,200; +600
- Government: 93,700; +700
- Restaurants & Hotels: 72,800; +5,500
- Construction, Mining: 48,500; -400
- Financial Services: 37,600; -100
- Other Jobs: 24,900; +200
Data is based on the most recent 12 months available, through May 2021 (Data published June 2021 and reports created on June 30, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.