Overall unemployment rate moved down to 3.0% with the biggest shift in Education & Healthcare, which gained 3,700 roles, based on the most recently available information published in April 2022.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market rose by 13,540 jobs in February and the unemployment rate decreased compared to the prior month by 40 bps to 3.0%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- 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 240 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 0.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Business Services: 248,600; +1,700
- Education & Healthcare: 185,000; +3,700
- Manufacturing: 171,900; +300
- Transportation & Utilities: 120,100; -300
- IT & Development: 108,300; -200
- Government: 93,500; -500
- Restaurants & Hotels: 90,800; +1,500
- Construction, Mining: 53,000; +1,800
- Financial Services: 37,600; +900
- Other Jobs: 23,800; +400
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.