Overall unemployment rate moved down to 2.5% with the biggest shift in Construction, Mining, which gained 500 roles, based on the most recently available information published in June 2022.
Total employment in the Cedar Rapids, IA market rose by 914 jobs in April and the unemployment rate decreased compared to the prior month by 120 bps to 2.5%. The national unemployment rate decreased by 42 bps over the same time to 3.3%.
- Cedar Rapids, IA unemployment rate is 84 bps below the national rate which is a positive sign.
- Unemployment in the market is 280 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 1.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Transportation & Utilities: 30,200; no change
- Education & Healthcare: 20,300; no change
- Manufacturing: 19,000; -100
- Government: 16,300; no change
- Business Services: 14,000; +400
- Restaurants & Hotels: 11,200; +200
- Financial Services: 11,000; -100
- Construction, Mining: 9,000; +500
- Other Jobs: 4,800; no change
- IT & Development: 3,000; +100
Data is based on the most recent 12 months available, through April 2022 (Data published June 2022 and reports created on June 1, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.