Overall unemployment rate moved down to 2.5% with the biggest shift in Education & Healthcare, which gained 100 roles, based on the most recently available information published in April 2023.
Total employment in the Florence-Muscle Shoals, AL market rose by 451 jobs in February and the unemployment rate decreased compared to the prior month by 40 bps to 2.5%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Florence-Muscle Shoals, AL unemployment rate is 139 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 February versus prior month by 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: 11,600; no change
- Government: 10,100; +100
- Manufacturing: 8,600; no change
- Education & Healthcare: 7,900; +100
- Restaurants & Hotels: 6,200; +100
- Construction, Mining: 4,200; no change
- Business Services: 3,900; +100
- Other Jobs: 2,500; no change
- Financial Services: 2,500; no change
- IT & Development: 400; no change
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.