Overall unemployment rate moved down to 2.9% with the biggest shift in Business Services, which gained 4,400 roles, based on the most recently available information published in April 2022.
Total employment in the San Francisco-Oakland-Hayward, CA market rose by 29,384 jobs in March and the unemployment rate decreased compared to the prior month by 50 bps to 2.9%. The national unemployment rate decreased by 39 bps over the same time to 3.8%.
- San Francisco-Oakland-Hayward, CA unemployment rate is 85 bps below the national rate which is a positive sign.
- Unemployment in the market is 370 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 1.8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Business Services: 512,100; +4,400
- Education & Healthcare: 372,400; +1,500
- Transportation & Utilities: 357,600; +1,100
- Government: 314,400; +2,500
- Restaurants & Hotels: 219,800; +4,400
- Manufacturing: 152,900; +1,600
- IT & Development: 143,200; +600
- Financial Services: 141,500; -600
- Construction, Mining: 125,200; +1,100
- Other Jobs: 80,600; +1,000
Data is based on the most recent 12 months available, through March 2022 (Data published April 2022 and reports created on April 27, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.