Overall unemployment rate moved down to 2.4% with the biggest shift in Restaurants & Hotels, which lost 1,500 roles, based on the most recently available information published in November 2022.
Total employment in the Birmingham-Hoover, AL market declined by 4,192 jobs in September and the unemployment rate decreased compared to the prior month by 20 bps to 2.4%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Birmingham-Hoover, AL unemployment rate is 92 bps below the national rate which is a positive sign.
- Unemployment in the market is 30 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 3.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.1% . Key sectors include:
- Transportation & Utilities: 112,800; -400
- Government: 87,400; +1,100
- Education & Healthcare: 77,800; +900
- Business Services: 72,600; +500
- Restaurants & Hotels: 48,500; -1,500
- Financial Services: 43,900; +100
- Manufacturing: 39,600; +200
- Construction, Mining: 33,800; +100
- Other Jobs: 31,400; -200
- IT & Development: 8,600; no change
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.