Overall unemployment rate moved up to 8.7% with the biggest shift in Restaurants & Hotels, which lost 600 roles, based on the most recently available information published in March 2023.
Total employment in the Hanford-Corcoran, CA market declined by 345 jobs in January and the unemployment rate increased compared to the prior month by 190 bps to 8.7%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Hanford-Corcoran, CA unemployment rate is 484 bps above the national rate which is a negative sign.
- Unemployment in the market is 30 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 12.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.8%. Key sectors include:
- Government: 14,500; -300
- Education & Healthcare: 6,900; no change
- Transportation & Utilities: 6,500; -300
- Manufacturing: 4,900; no change
- Restaurants & Hotels: 3,800; -600
- Business Services: 1,900; no change
- Construction, Mining: 1,200; no change
- Financial Services: 900; no change
- Other Jobs: 800; no change
- IT & Development: 100; no change
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.