Overall unemployment rate moved down to 2.5% with the biggest shift in Government, which gained 6,000 roles, based on the most recently available information published in November 2022.
Total employment in the San Francisco-Oakland-Hayward, CA market rose by 841 jobs in September and the unemployment rate decreased compared to the prior month by 30 bps to 2.5%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- San Francisco-Oakland-Hayward, CA unemployment rate is 82 bps below the national rate which is a positive sign.
- Unemployment in the market is 210 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 1.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.2%. Key sectors include:
- Business Services: 527,000; -4,000
- Education & Healthcare: 371,700; +1,600
- Transportation & Utilities: 358,800; -2,800
- Government: 306,800; +6,000
- Restaurants & Hotels: 241,000; -400
- Manufacturing: 157,000; +1,200
- IT & Development: 148,300; -2,200
- Financial Services: 141,100; -1,900
- Construction, Mining: 128,200; -1,600
- Other Jobs: 83,900; -1,000
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.