Overall unemployment rate moved up to 9.7% , based on the most recently available information published in May 2023.
Total employment in the Hanford-Corcoran, CA market declined by 336 jobs in March and the unemployment rate increased compared to the prior month by 30 bps to 9.7%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Hanford-Corcoran, CA unemployment rate is 608 bps above the national rate which is a negative sign.
- Unemployment in the market is 150 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in March versus prior month by 6.9% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs stayed flat. Key sectors include:
- Government: 14,900; no change
- Education & Healthcare: 7,000; no change
- Transportation & Utilities: 6,500; no change
- Manufacturing: 5,000; no change
- Restaurants & Hotels: 4,300; no change
- 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 March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.