Overall unemployment rate moved up to 3.1% with the biggest shift in Manufacturing, which gained 2,900 roles, based on the most recently available information published in February 2022.
Total employment in the Waterloo-Cedar Falls, IA market declined by 780 jobs in December and the unemployment rate increased compared to the prior month by 30 bps to 3.1%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Waterloo-Cedar Falls, IA unemployment rate is 59 bps below the national rate which is a positive sign.
- Unemployment in the market is 120 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 5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 3.2% . Key sectors include:
- Transportation & Utilities: 19,700; +100
- Manufacturing: 16,100; +2,900
- Education & Healthcare: 13,700; no change
- Government: 13,500; -400
- Restaurants & Hotels: 7,100; -100
- Business Services: 6,500; no change
- Financial Services: 4,900; 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.