Overall unemployment rate moved up to 6.7% with the biggest shift in Government, which gained 400 roles, based on the most recently available information published in April 2023.
Total employment in the Santa Cruz-Watsonville, CA market rose by 1,494 jobs in February and the unemployment rate increased compared to the prior month by 50 bps to 6.7%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Santa Cruz-Watsonville, CA unemployment rate is 281 bps above the national rate which is a negative sign.
- Unemployment in the market is 60 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in February versus prior month by 2.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.1% . Key sectors include:
- Government: 19,600; +400
- Education & Healthcare: 18,400; +300
- Transportation & Utilities: 16,700; -100
- Restaurants & Hotels: 14,100; +400
- Business Services: 10,800; +100
- Manufacturing: 7,900; no change
- Other Jobs: 5,300; no change
- Construction, Mining: 5,000; no change
- Financial Services: 3,200; no change
- IT & Development: 600; no change
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.