Overall unemployment rate moved up to 4.7% with the biggest shift in Government, which lost 1,300 roles, based on the most recently available information published in March 2021.
Total employment in the Waterloo-Cedar Falls, IA market declined by 1,757 jobs in January and the unemployment rate increased compared to the prior month by 130 bps to 4.7%. The national unemployment rate increased by 31 bps over the same time to 6.8%.
- Waterloo-Cedar Falls, IA unemployment rate is 211 bps below the national rate which is a positive sign.
- Unemployment in the market is 50 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in January versus prior month by 4.9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.8%. Key sectors include:
- Transportation & Utilities: 17,200; -500
- Manufacturing: 15,900; -100
- Education & Healthcare: 13,600; -100
- Government: 11,900; -1,300
- Restaurants & Hotels: 6,500; -100
- Business Services: 6,300; -100
- Financial Services: 4,800; no change
Data is based on the most recent 12 months available, through January 2021 (Data published March 2021 and reports created on March 25, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.