Overall unemployment rate moved up to 2.3% with the biggest shift in Restaurants & Hotels, which gained 2,300 roles, based on the most recently available information published in August 2022.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market declined by 3,846 jobs in June and the unemployment rate increased compared to the prior month by 40 bps to 2.3%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 154 bps below the national rate which is a positive sign.
- Unemployment in the market is 320 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in June 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 0.9% . Key sectors include:
- Business Services: 255,200; +2,000
- Education & Healthcare: 184,600; -600
- Manufacturing: 175,100; +2,100
- Transportation & Utilities: 120,400; +200
- IT & Development: 111,700; +2,000
- Restaurants & Hotels: 100,400; +2,300
- Government: 96,800; +800
- Construction, Mining: 55,100; +600
- Financial Services: 37,500; +400
- Other Jobs: 24,300; +200
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.