Overall unemployment rate moved up to 2.9% with the biggest shift in Transportation & Utilities, which lost 200 roles, based on the most recently available information published in March 2023.
Total employment in the Florence-Muscle Shoals, AL market declined by 712 jobs in January and the unemployment rate increased compared to the prior month by 50 bps to 2.9%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Florence-Muscle Shoals, AL unemployment rate is 96 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 January versus prior month by 0.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.2%. Key sectors include:
- Transportation & Utilities: 11,600; -200
- Government: 10,000; -200
- Manufacturing: 8,600; no change
- Education & Healthcare: 7,800; no change
- Restaurants & Hotels: 6,000; -200
- Construction, Mining: 4,200; no change
- Business Services: 3,800; -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 January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.