Overall unemployment rate moved up to 3.1% with the biggest shift in Transportation & Utilities, which lost 2,600 roles, based on the most recently available information published in March 2022.
Total employment in the Birmingham-Hoover, AL market rose by 198 jobs in January and the unemployment rate increased compared to the prior month by 50 bps to 3.1%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Birmingham-Hoover, AL unemployment rate is 133 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 January versus prior month by 4.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.4%. Key sectors include:
- Transportation & Utilities: 112,500; -2,600
- Government: 86,100; -800
- Education & Healthcare: 73,000; +300
- Business Services: 70,000; -1,900
- Restaurants & Hotels: 46,100; -1,200
- Financial Services: 42,400; -600
- Manufacturing: 38,300; -200
- Construction, Mining: 31,000; -300
- Other Jobs: 30,200; -500
- IT & Development: 8,600; -100
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.