Overall unemployment rate moved up to 3.3% with the biggest shift in Transportation & Utilities, which lost 9,400 roles, based on the most recently available information published in March 2023.
Total employment in the San Francisco-Oakland-Hayward, CA market declined by 34,939 jobs in January and the unemployment rate increased compared to the prior month by 90 bps to 3.3%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- San Francisco-Oakland-Hayward, CA unemployment rate is 56 bps below the national rate which is a positive sign.
- Unemployment in the market is 60 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 0.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.2%. Key sectors include:
- Business Services: 523,900; -7,700
- Education & Healthcare: 388,600; -3,000
- Transportation & Utilities: 359,400; -9,400
- Government: 311,800; +7,000
- Restaurants & Hotels: 239,600; -6,900
- Manufacturing: 155,800; -1,200
- IT & Development: 151,600; -3,600
- Financial Services: 145,100; -1,700
- Construction, Mining: 120,500; -3,200
- Other Jobs: 82,400; -1,100
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.