Overall unemployment rate moved up to 3.4% with the biggest shift in Construction, Mining, which gained 4,200 roles, based on the most recently available information published in April 2023.
Total employment in the San Francisco-Oakland-Hayward, CA market rose by 15,872 jobs in February and the unemployment rate increased compared to the prior month by 10 bps to 3.4%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- San Francisco-Oakland-Hayward, CA unemployment rate is 49 bps below the national rate which is a positive sign.
- Unemployment in the market is equal to the unemployment rate in the market last year at this time.
- Average wages (per hour) grew in February versus prior month by 1.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:
- Business Services: 523,400; +2,900
- Education & Healthcare: 393,300; +2,800
- Transportation & Utilities: 356,600; -1,800
- Government: 315,200; +2,900
- Restaurants & Hotels: 242,400; +2,800
- Manufacturing: 158,100; +2,000
- IT & Development: 149,600; -1,200
- Financial Services: 145,800; +1,000
- Construction, Mining: 125,800; +4,200
- Other Jobs: 81,700; -800
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.