Unemployment for May just 2.1 %

CA unemployment was 4.2%

The biggest job gain for Santa Clara County was in the Information sector.

California unemployment estimates stayed low through May, and Silicon Valley counties again saw another drop, ranked them among the brightest labor markets in an overall very rosy picture.

Locally the area that includes San Jose, Sunnyvale, Santa Clara, and San Benito County saw an estimated increase of 4,900 jobs for May, according to the California Employment Development Department, which released it’s monthly labor market report Friday.

For our local area, most of those jobs were in the two industries: information and leisure and hospitality.

For California, the unemployment rate was 4.2 percent. The U.S. rate was 3.6 percent for the same period.

The state’s 111-month employment expansion is the second-longest on record behind the 113-month long expansion of the 1960s.

Silicon Valley Unemployment

San Mateo, which usually leads the state, had the lowest estimated unemployment rate for the state at 1.7 percent. San Francisco and Marin counties tied for second place at 1.9 percent unemployment. Santa Clara County ranked fourth lowest unemployment in California at 2.1 percent.

Other Bay Area counties, also reported low rates despite including more volatile industries such as manufacturing and agricultural industry.

  • 2.5 % – Alameda (9th)
  • 3.9 % – Santa Cruz (29th)
  • 4.5 % – San Benito (36th)

May 2019 Job Adds

The industry breakdown for new jobs for Santa Clara and San Benito counties:

  • 1,500—Information
  • 1,400 jobs—Leisure and Hospitality—mainly seasonal jobs such as Food Services and Drinking places (+600) and Accommodation (+300)
  • 900 jobs—Professional and Business Services—mainly in Administrative and Support Services
  • 600 jobs—Private educational and Health Services

Year Over Year Job Gains

Year over year, the industry breakdown for new jobs for Santa Clara and San Benito counties was as follows:

  • 9,700 jobs—Information
  • 4,700 —Professional and Business Services—private education and health services was up 3,200 and government was up 3,000
  • 900—Financial Activities
  • 600—Leisure and Hospitality

A loss of 500 jobs was estimated for trade, transportation and utilities.

For the state, seven of California’s 11 major industry sectors gained jobs in May. The biggest increase of 12,800 jobs came in construction with a rebound in homebuilding, followed by a gain of 4,500 jobs in leisure and hospitality and 1,800 jobs in government.

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