Overall unemployment rate moved down to 2.2% with the biggest shift in Restaurants & Hotels, which gained 6,200 roles, based on the most recently available information published in June 2022.

Total employment in the San Francisco-Oakland-Hayward, CA market rose by 8,867 jobs in May and the unemployment rate decreased compared to the prior month by 30 bps to 2.2%. The national unemployment rate increased by 4 bps over the same time to 3.4%.

  • San Francisco-Oakland-Hayward, CA unemployment rate is 118 bps below the national rate which is a positive sign.
  • Unemployment in the market is 360 bps below the unemployment rate in the market last year at this time, which is a positive.
  • Average wages (per hour) grew in May versus prior month by 2% and are up compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
San Francisco-Oakland-Hayward, CA Unemployment May 2022

For key employment segments of the market, total jobs grew by 0.4% . Key sectors include:

  • Business Services: 516,800; -1,300
  • Education & Healthcare: 372,300; -200
  • Transportation & Utilities: 356,400; -300
  • Government: 318,200; +2,500
  • Restaurants & Hotels: 232,500; +6,200
  • Manufacturing: 152,700; -200
  • IT & Development: 144,500; +1,100
  • Financial Services: 140,900; -400
  • Construction, Mining: 127,100; +2,300
  • Other Jobs: 83,500; +1,100
San Francisco-Oakland-Hayward, CA Unemployment by Industry May 2022

Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022).  Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.