Overall unemployment rate moved up to 2.8% with the biggest shift in Government, which gained 1,800 roles, based on the most recently available information published in September 2022.
Total employment in the San Francisco-Oakland-Hayward, CA market declined by 102 jobs in August and the unemployment rate increased compared to the prior month by 20 bps to 2.8%. The national unemployment rate stayed flat over the same time period at 3.8%.
- San Francisco-Oakland-Hayward, CA unemployment rate is 99 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 August versus prior month by -1.7% 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:
- Business Services: 529,300; +1,000
- Education & Healthcare: 369,500; -200
- Transportation & Utilities: 361,300; -200
- Government: 300,500; +1,800
- Restaurants & Hotels: 242,100; +1,100
- Manufacturing: 155,800; no change
- IT & Development: 149,700; -300
- Financial Services: 142,500; -200
- Construction, Mining: 130,300; -1,700
- Other Jobs: 84,300; -1,200
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.