Overall unemployment rate moved down to 2.9% with the biggest shift in Government, which lost 500 roles, based on the most recently available information published in February 2022.
Total employment in the Florence-Muscle Shoals, AL market declined by 673 jobs in December and the unemployment rate decreased compared to the prior month by 10 bps to 2.9%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Florence-Muscle Shoals, AL unemployment rate is 79 bps below the national rate which is a positive sign.
- Unemployment in the market is 20 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in December versus prior month by 4.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.9%. Key sectors include:
- Transportation & Utilities: 11,800; no change
- Government: 10,000; -500
- Manufacturing: 8,300; +100
- Education & Healthcare: 7,700; +100
- Restaurants & Hotels: 6,100; -100
- Business Services: 4,200; -100
- Construction, Mining: 3,700; no change
- Other Jobs: 2,300; no change
- Financial Services: 2,300; no change
- IT & Development: 400; no change
Data is based on the most recent 12 months available, through December 2021 (Data published February 2022 and reports created on February 4, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.