Overall unemployment rate moved down to 2.5% with the biggest shift in Restaurants & Hotels, which gained 6,300 roles, based on the most recently available information published in June 2022.
Total employment in the San Francisco-Oakland-Hayward, CA market declined by 22,706 jobs in April and the unemployment rate decreased compared to the prior month by 40 bps to 2.5%. The national unemployment rate decreased by 42 bps over the same time to 3.3%.
- San Francisco-Oakland-Hayward, CA unemployment rate is 84 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 April versus prior month by 2.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Business Services: 516,800; +4,400
- Education & Healthcare: 371,800; -1,500
- Transportation & Utilities: 356,800; -100
- Government: 315,600; +1,100
- Restaurants & Hotels: 226,300; +6,300
- Manufacturing: 152,700; -300
- IT & Development: 143,600; -200
- Financial Services: 141,400; +200
- Construction, Mining: 124,400; -700
- Other Jobs: 82,500; +1,700
Data is based on the most recent 12 months available, through April 2022 (Data published June 2022 and reports created on June 1, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.