Overall unemployment rate stayed flat at 2.2% with the biggest shift in Education & Healthcare, which gained 5,900 roles, based on the most recently available information published in December 2022.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market rose by 1,201 jobs in October and the unemployment rate stayed flat. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 120 bps below the national rate which is a positive sign.
- Unemployment in the market is 150 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.5% . Key sectors include:
- Business Services: 266,000; +3,600
- Education & Healthcare: 192,200; +5,900
- Manufacturing: 176,400; +700
- Transportation & Utilities: 123,400; +1,900
- IT & Development: 114,000; +300
- Restaurants & Hotels: 101,300; +800
- Government: 95,100; +2,600
- Construction, Mining: 57,800; +500
- Financial Services: 36,600; +600
- Other Jobs: 24,500; +100
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.