Overall unemployment rate moved down to 2.8% with the biggest shift in Government, which lost 1,400 roles, based on the most recently available information published in August 2022.
Total employment in the Birmingham-Hoover, AL market rose by 1,771 jobs in July and the unemployment rate decreased compared to the prior month by 10 bps to 2.8%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Birmingham-Hoover, AL unemployment rate is 98 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 July versus prior month by 4.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.2%. Key sectors include:
- Transportation & Utilities: 113,500; -300
- Government: 85,700; -1,400
- Education & Healthcare: 76,800; -200
- Business Services: 72,400; +600
- Restaurants & Hotels: 51,800; -400
- Financial Services: 43,300; -100
- Manufacturing: 39,400; +100
- Construction, Mining: 33,700; +600
- Other Jobs: 31,700; no change
- IT & Development: 8,800; +100
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.