Overall unemployment rate moved down to 2.8% with the biggest shift in Manufacturing, which lost 2,700 roles, based on the most recently available information published in December 2021.
Total employment in the Waterloo-Cedar Falls, IA market declined by 215 jobs in November and the unemployment rate decreased compared to the prior month by 20 bps to 2.8%. The national unemployment rate decreased by 37 bps over the same time to 3.9%.
- Waterloo-Cedar Falls, IA unemployment rate is 109 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 November versus prior month by 2% and are down 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: 19,300; +200
- Government: 13,900; +200
- Education & Healthcare: 13,700; no change
- Manufacturing: 13,300; -2,700
- Restaurants & Hotels: 7,200; -100
- Business Services: 6,500; +100
- Financial Services: 4,900; no change
Data is based on the most recent 12 months available, through November 2021 (Data published December 2021 and reports created on January 6, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.