San Jose finished 2018 with the one of the lowest levels of unemployment of all time. At 2.5%, only May of last year saw a lower number (2.3%). The labor force also grew from 553,000 people to 575,000. Sometimes unemployment figures are better than reality because people give up and drop out of the labor pool entirely. The fact that the labor force grew shows that is not the case.
Wages in the San Jose metro also grew 4.5% in 2018, which outpaced San Francisco, New York, and Seattle. Keep in mind we already have the highest salaries in the US. Now is an amazing time to look for jobs or ask for raises!
Source:
San Jose Economy Blog
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