Overall unemployment rate moved down to 2.5% with the biggest shift in Business Services, which gained 2,500 roles, based on the most recently available information published in December 2021.
Total employment in the Birmingham-Hoover, AL market rose by 3,442 jobs in October and the unemployment rate decreased compared to the prior month by 20 bps to 2.5%. The national unemployment rate decreased by 30 bps over the same time to 4.3%.
- Birmingham-Hoover, AL unemployment rate is 176 bps below the national rate which is a positive sign.
- Unemployment in the market is 170 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 3.2% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.5% . Key sectors include:
- Transportation & Utilities: 107,600; +700
- Government: 86,400; +500
- Education & Healthcare: 78,500; +1,800
- Business Services: 76,000; +2,500
- Restaurants & Hotels: 49,700; +1,300
- Financial Services: 42,100; +500
- Manufacturing: 38,300; -100
- Construction, Mining: 31,800; +800
- Other Jobs: 28,900; +200
- IT & Development: 8,200; no change
Data is based on the most recent 12 months available, through October 2021 (Data published December 2021 and reports created on December 2, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.