Overall unemployment rate moved down to 2.5% with the biggest shift in Restaurants & Hotels, which gained 3,300 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 11,595 jobs in March and the unemployment rate decreased compared to the prior month by 50 bps to 2.5%. The national unemployment rate decreased by 39 bps over the same time to 3.8%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 125 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 March versus prior month by 1.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:
- Business Services: 250,200; +300
- Education & Healthcare: 184,600; +700
- Manufacturing: 171,900; +100
- Transportation & Utilities: 120,200; no change
- IT & Development: 109,000; +1,000
- Government: 94,700; +1,000
- Restaurants & Hotels: 94,400; +3,300
- Construction, Mining: 53,200; +300
- Financial Services: 36,800; -800
- Other Jobs: 24,300; +500
Data is based on the most recent 12 months available, through March 2022 (Data published April 2022 and reports created on April 27, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.