Overall unemployment rate moved up to 3.3% with the biggest shift in Education & Healthcare, which gained 3,100 roles, based on the most recently available information published in May 2023.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market rose by 7,150 jobs in March and the unemployment rate increased compared to the prior month by 10 bps to 3.3%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 32 bps below the national rate which is a positive sign.
- Unemployment in the market is 40 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in March versus prior month by 3.2% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Business Services: 254,800; -1,400
- Education & Healthcare: 195,800; +3,100
- Manufacturing: 180,700; +100
- Transportation & Utilities: 122,000; +100
- IT & Development: 105,000; +500
- Restaurants & Hotels: 103,200; +2,700
- Government: 98,000; +1,100
- Construction, Mining: 54,400; -1,200
- Financial Services: 37,500; -200
- Other Jobs: 24,700; +600
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.