Overall unemployment rate moved down to 2.8% with the biggest shift in Transportation & Utilities, which gained 1,300 roles, based on the most recently available information published in April 2022.
Total employment in the Birmingham-Hoover, AL market rose by 4,724 jobs in February and the unemployment rate decreased compared to the prior month by 30 bps to 2.8%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Birmingham-Hoover, AL unemployment rate is 134 bps below the national rate which is a positive sign.
- Unemployment in the market is 60 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 4.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:
- Transportation & Utilities: 113,600; +1,300
- Government: 86,000; -100
- Education & Healthcare: 72,800; -100
- Business Services: 69,900; no change
- Restaurants & Hotels: 47,200; +700
- Financial Services: 42,900; +300
- Manufacturing: 39,100; +700
- Construction, Mining: 31,000; +100
- Other Jobs: 30,800; +300
- IT & Development: 8,700; +100
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.