Overall unemployment rate moved down to 4.5% with the biggest shift in Government, which gained 1,400 roles, based on the most recently available information published in April 2021.
Total employment in the Waterloo-Cedar Falls, IA market rose by 2,032 jobs in February and the unemployment rate decreased compared to the prior month by 40 bps to 4.5%. The national unemployment rate decreased by 26 bps over the same time to 6.6%.
- Waterloo-Cedar Falls, IA unemployment rate is 205 bps below the national rate which is a positive sign.
- Unemployment in the market is 120 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in February versus prior month by 3.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 2.0% . Key sectors include:
- Transportation & Utilities: 17,100; -100
- Manufacturing: 15,800; -100
- Education & Healthcare: 13,800; +200
- Government: 13,400; +1,400
- Restaurants & Hotels: 6,600; +100
- Business Services: 6,300; no change
- Financial Services: 4,800; no change
Data is based on the most recent 12 months available, through February 2021 (Data published April 2021 and reports created on April 9, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.