December unemployment drops to 2.2%

Silicon Valley unemployment dropped in December 2019 to 2.2 percent.

The holidays had Silicon Valley people on the job, especially seasonal workers in restaurants, drinking establishments and food services, according to the California Employment Development Department. The unemployment rate estimate for the heart of Silicon Valley dropped in December 2019 to 2.2 percent, according to the EDD.

It was down from a revised 2.3 percent the previous month and below the year-ago estimate of 2.5 percent.

Top Job Gains for San Jose, Sunnyvale, and Santa Clara

  • Leisure and hospitality added an estimated 1,300 jobs.
  • Trade, transportation, and utilities added 1,200 jobs, mostly in retail trade, thanks to holiday shopping.
  • Manufacturing added 1,100 jobs, mostly in computer and electronic product manufacturing (600 jobs), semiconductor and electronic component manufacturing (400 jobs), and transportation equipment manufacturing (100 jobs).

The biggest drop was in farm jobs, which was down 900 jobs for December, which is consistent with seasonal data.

Year Over Year Growth

Compared to the previous year, growth primarily in manufacturing and professional and business services added 32,500 jobs between December 2018 and December 2019. The numbers:

  • Manufacturing—added 7,800 jobs, mostly in computer and electronic product manufacturing (up 5,800 jobs).
  • Professional and business services— added 6,600 jobs, information (up 6,400 jobs), and government (up 6,400 jobs) posted year-over job growth.
  • Private educational and health services added 3,400 jobs.
  • Trade, transportation, and utilities posted a net gain of 1,000 jobs.
  • Employment growth in retail trade (up 1,300 jobs) and wholesale trade (up 1,000 jobs) offset employment losses in transportation, warehousing and utilities (down 1,300 jobs).

Santa Clara County Ranks 4th

Only San Mateo (1.8 percent), San Francisco (1.9 percent), and Marin (1.9 percent) ranked lower for unemployment. Imperial and Colusa, both agricultural communities, were the only two counties to report double digit unemployment, with 19.4 percent and 14.2 percent respectively.

As usual, the unemployment rate for neighboring San Benito County was significantly higher at 5 percent, compared to 2.2 percent in Santa Clara County.

Statewide, the unemployment rate was 3.7 percent; it was 3.4 percent for the nation.

 

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