Overall unemployment rate moved up to 3.2% with the biggest shift in Education & Healthcare, which gained 2,300 roles, based on the most recently available information published in April 2023.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market rose by 6,293 jobs in February and the unemployment rate increased compared to the prior month by 10 bps to 3.2%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 69 bps below the national rate which is a positive sign.
- Unemployment in the market is 20 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in February versus prior month by 2.6% 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: 254,900; +2,200
- Education & Healthcare: 192,900; +2,300
- Manufacturing: 180,800; -100
- Transportation & Utilities: 121,700; -2,000
- IT & Development: 104,500; +300
- Restaurants & Hotels: 100,400; +1,000
- Government: 96,900; +300
- Construction, Mining: 55,900; +1,100
- Financial Services: 37,600; -100
- Other Jobs: 24,500; +300
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.