Overall unemployment rate moved down to 2.0% with the biggest shift in Government, which gained 300 roles, based on the most recently available information published in May 2023.
Total employment in the Florence-Muscle Shoals, AL market rose by 603 jobs in March and the unemployment rate decreased compared to the prior month by 50 bps to 2.0%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Florence-Muscle Shoals, AL unemployment rate is 162 bps below the national rate which is a positive sign.
- Unemployment in the market is 50 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 2.8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Transportation & Utilities: 11,600; no change
- Government: 10,400; +300
- Manufacturing: 8,600; no change
- Education & Healthcare: 7,800; -100
- Restaurants & Hotels: 6,300; +100
- Construction, Mining: 4,200; no change
- Business Services: 3,900; no change
- 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 March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.