Overall unemployment rate moved up to 2.6% with the biggest shift in Construction, Mining, which gained 100 roles, based on the most recently available information published in June 2022.
Total employment in the Florence-Muscle Shoals, AL market rose by 133 jobs in May and the unemployment rate increased compared to the prior month by 40 bps to 2.6%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Florence-Muscle Shoals, AL unemployment rate is 78 bps below the national rate which is a positive sign.
- Unemployment in the market is 80 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 3.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.2% . Key sectors include:
- Transportation & Utilities: 11,200; no change
- Government: 10,600; no change
- Manufacturing: 8,400; +100
- Education & Healthcare: 7,400; no change
- Restaurants & Hotels: 5,900; -100
- Business Services: 4,000; no change
- Construction, Mining: 4,000; +100
- 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 May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.