Overall unemployment rate moved down to 2.7% with the biggest shift in Restaurants & Hotels, which gained 3,200 roles, based on the most recently available information published in June 2022.
Total employment in the San Diego-Carlsbad, CA market rose by 7,496 jobs in May and the unemployment rate decreased compared to the prior month by 30 bps to 2.7%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- San Diego-Carlsbad, CA unemployment rate is 68 bps below the national rate which is a positive sign.
- Unemployment in the market is 390 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 5% 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: 280,000; -1,700
- Government: 249,100; +2,000
- Transportation & Utilities: 219,300; +700
- Education & Healthcare: 219,300; -500
- Restaurants & Hotels: 195,500; +3,200
- Manufacturing: 112,800; -700
- Construction, Mining: 86,900; +2,500
- Financial Services: 75,800; +600
- Other Jobs: 54,500; +2,000
- IT & Development: 22,600; +300
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.