Overall unemployment rate moved down to 3.4% with the biggest shift in Government, which lost 300 roles, based on the most recently available information published in August 2022.
Total employment in the Florence-Muscle Shoals, AL market rose by 408 jobs in July and the unemployment rate decreased compared to the prior month by 20 bps to 3.4%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Florence-Muscle Shoals, AL unemployment rate is 38 bps below the national rate which is a positive sign.
- Unemployment in the market is 60 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in July versus prior month by -1.2% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs stayed flat. Key sectors include:
- Transportation & Utilities: 11,200; +100
- Government: 10,100; -300
- Manufacturing: 8,400; no change
- Education & Healthcare: 7,400; no change
- Restaurants & Hotels: 6,100; +100
- Business Services: 4,100; +100
- Construction, Mining: 4,100; no change
- Other Jobs: 2,400; no change
- Financial Services: 2,400; no change
- IT & Development: 400; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.