Overall unemployment rate moved up to 2.6% with the biggest shift in Restaurants & Hotels, which gained 5,900 roles, based on the most recently available information published in August 2022.
Total employment in the San Francisco-Oakland-Hayward, CA market declined by 12,962 jobs in June and the unemployment rate increased compared to the prior month by 40 bps to 2.6%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- San Francisco-Oakland-Hayward, CA unemployment rate is 124 bps below the national rate which is a positive sign.
- Unemployment in the market is 380 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 2.5% 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: 519,900; +1,600
- Education & Healthcare: 371,300; -1,400
- Transportation & Utilities: 360,000; +2,700
- Government: 316,100; -2,000
- Restaurants & Hotels: 238,000; +5,900
- Manufacturing: 155,000; +2,200
- IT & Development: 147,600; +2,700
- Financial Services: 141,400; +600
- Construction, Mining: 128,600; +1,300
- Other Jobs: 84,200; +900
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.