Overall unemployment rate moved down to 3.8% with the biggest shift in Education & Healthcare, which gained 5,700 roles, based on the most recently available information published in December 2021.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market rose by 9,735 jobs in October and the unemployment rate decreased compared to the prior month by 20 bps to 3.8%. The national unemployment rate decreased by 30 bps over the same time to 4.3%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 46 bps below the national rate which is a positive sign.
- Unemployment in the market is 270 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in October versus prior month by -0.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.5% . Key sectors include:
- Business Services: 250,800; +4,500
- Education & Healthcare: 179,100; +5,700
- Manufacturing: 173,900; -100
- Transportation & Utilities: 120,100; +1,100
- IT & Development: 111,800; +1,300
- Government: 92,300; +3,000
- Restaurants & Hotels: 80,100; +1,400
- Construction, Mining: 51,600; +800
- Financial Services: 38,300; +1,000
- Other Jobs: 23,400; -1,600
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.