Overall unemployment rate moved down to 2.7% with the biggest shift in Manufacturing, which gained 200 roles, based on the most recently available information published in December 2021.
Total employment in the Florence-Muscle Shoals, AL market rose by 284 jobs in October and the unemployment rate decreased compared to the prior month by 30 bps to 2.7%. The national unemployment rate decreased by 30 bps over the same time to 4.3%.
- Florence-Muscle Shoals, AL unemployment rate is 156 bps below the national rate which is a positive sign.
- Unemployment in the market is 100 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 4.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.9% . Key sectors include:
- Transportation & Utilities: 11,400; no change
- Government: 10,500; +200
- Manufacturing: 8,300; +200
- Education & Healthcare: 7,400; no change
- Restaurants & Hotels: 6,100; +100
- Business Services: 4,200; +100
- Construction, Mining: 3,800; no change
- Other Jobs: 2,300; no change
- Financial Services: 2,300; -100
- IT & Development: 400; 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.