Overall unemployment rate moved down to 1.8% with the biggest shift in Business Services, which lost 1,300 roles, based on the most recently available information published in May 2023.
Total employment in the Birmingham-Hoover, AL market rose by 4,416 jobs in March and the unemployment rate decreased compared to the prior month by 40 bps to 1.8%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Birmingham-Hoover, AL unemployment rate is 182 bps below the national rate which is a positive sign.
- Unemployment in the market is 50 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 5.8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Transportation & Utilities: 113,900; +300
- Government: 89,300; +400
- Education & Healthcare: 74,400; +500
- Business Services: 74,300; -1,300
- Restaurants & Hotels: 48,100; +1,100
- Financial Services: 43,700; +100
- Manufacturing: 38,800; -300
- Construction, Mining: 32,400; +700
- Other Jobs: 31,900; +200
- IT & Development: 9,300; -100
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.