Overall unemployment rate moved up to 2.4% with the biggest shift in Transportation & Utilities, which lost 3,000 roles, based on the most recently available information published in March 2023.
Total employment in the Birmingham-Hoover, AL market declined by 9,219 jobs in January and the unemployment rate increased compared to the prior month by 40 bps to 2.4%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Birmingham-Hoover, AL unemployment rate is 146 bps below the national rate which is a positive sign.
- Unemployment in the market is 70 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 7% 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: 114,500; -3,000
- Government: 88,500; -300
- Business Services: 75,000; -600
- Education & Healthcare: 73,500; -900
- Restaurants & Hotels: 46,900; -1,700
- Financial Services: 43,600; -300
- Manufacturing: 38,700; -400
- Other Jobs: 31,500; no change
- Construction, Mining: 31,400; -700
- IT & Development: 9,300; no change
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.