Overall unemployment rate moved down to 2.2% with the biggest shift in Restaurants & Hotels, which gained 4,400 roles, based on the most recently available information published in June 2022.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market declined by 4,745 jobs in April and the unemployment rate decreased compared to the prior month by 30 bps to 2.2%. The national unemployment rate decreased by 42 bps over the same time to 3.3%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 114 bps below the national rate which is a positive sign.
- Unemployment in the market is 330 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 0.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Business Services: 252,500; +1,300
- Education & Healthcare: 184,200; -600
- Manufacturing: 172,700; +1,100
- Transportation & Utilities: 120,300; -200
- IT & Development: 109,400; +300
- Restaurants & Hotels: 98,500; +4,400
- Government: 95,500; +800
- Construction, Mining: 54,000; +600
- Financial Services: 37,600; +600
- Other Jobs: 24,400; +100
Data is based on the most recent 12 months available, through April 2022 (Data published June 2022 and reports created on June 1, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.