Overall unemployment rate moved up to 2.4% with the biggest shift in It & Development, which gained 1,300 roles, based on the most recently available information published in September 2022.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market rose by 4,369 jobs in August and the unemployment rate increased compared to the prior month by 20 bps to 2.4%. The national unemployment rate stayed flat over the same time period at 3.8%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 139 bps below the national rate which is a positive sign.
- Unemployment in the market is 230 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 0.2% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Business Services: 261,000; -300
- Education & Healthcare: 185,300; +1,000
- Manufacturing: 176,800; +900
- Transportation & Utilities: 122,100; +800
- IT & Development: 116,000; +1,300
- Restaurants & Hotels: 102,100; +1,100
- Government: 90,600; +600
- Construction, Mining: 55,700; no change
- Financial Services: 36,200; -300
- Other Jobs: 24,900; +400
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.