Overall unemployment rate moved up to 2.4% with the biggest shift in Transportation & Utilities, which gained 1,400 roles, based on the most recently available information published in January 2022.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market declined by 6,639 jobs in November and the unemployment rate increased compared to the prior month by 20 bps to 2.4%. The national unemployment rate decreased by 4 bps over the same time to 3.4%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 96 bps below the national rate which is a positive sign.
- Unemployment in the market is 80 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in November versus prior month by 2.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Business Services: 266,200; no change
- Education & Healthcare: 192,900; +1,300
- Manufacturing: 176,200; -700
- Transportation & Utilities: 124,900; +1,400
- IT & Development: 114,500; +1,000
- Restaurants & Hotels: 101,500; +400
- Government: 95,800; +1,000
- Construction, Mining: 57,600; -500
- Financial Services: 36,800; +200
- Other Jobs: 24,400; no change
Data is based on the most recent 12 months available, through November 2022 (Data published January 2022 and reports created on January 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.