San Jose-metro unemployment, August 2026
San Jose-metro unemployment was 4.3% in August 2026, the newest month in the series and the monthly update to the unemployment post. That is down 0.4 points from 4.7% in the same month a year earlier, and up from 4.1% the month before. The chart carries the full history back to 1990; the older post’s version of it stops at the month it was published with, so the two lines end in different places on purpose.
The year-ago comparison is the one to trust here. These numbers are not seasonally adjusted, so part of every month-to-month move is just the calendar — hiring for the holidays, students leaving and re-entering the labor force — and only the same month a year earlier strips that out. Keep the scale in mind too: this series ran from 2.3% in December 1999 to 12.8% in April 2020, so a few tenths of a point is a wobble, not a turn. And because the rate is a ratio, it can fall for the wrong reason — people who stop looking for work leave the denominator, and the rate improves with nobody hired.
Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, San Jose–Sunnyvale–Santa Clara MSA unemployment rate, not seasonally adjusted, via FRED SANJ906URN. Auto-generated each build.