Overall unemployment rate moved down to 3.7% with the biggest shift in Government, which lost 1,300 roles, based on the most recently available information published in August 2022.
Total employment in the Santa Cruz-Watsonville, CA market rose by 1,325 jobs in July and the unemployment rate decreased compared to the prior month by 10 bps to 3.7%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Santa Cruz-Watsonville, CA unemployment rate is 8 bps below the national rate which is a positive sign.
- Unemployment in the market is 280 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 10.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.8%. Key sectors include:
- Government: 21,400; -1,300
- Education & Healthcare: 17,600; +300
- Transportation & Utilities: 16,400; no change
- Restaurants & Hotels: 13,800; +300
- Business Services: 10,800; no change
- Manufacturing: 7,600; -100
- Construction, Mining: 5,100; no change
- Other Jobs: 4,800; no change
- Financial Services: 3,300; no change
- IT & Development: 600; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.