Overall unemployment rate moved down to 2.5% with the biggest shift in Restaurants & Hotels, which gained 200 roles, based on the most recently available information published in June 2023.
Total employment in the Waterloo-Cedar Falls, IA market rose by 1,109 jobs in April and the unemployment rate decreased compared to the prior month by 60 bps to 2.5%. The national unemployment rate decreased by 53 bps over the same time to 3.1%.
- Waterloo-Cedar Falls, IA unemployment rate is 60 bps below the national rate which is a positive sign.
- Unemployment in the market is 30 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in April versus prior month by 0.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.9% . Key sectors include:
- Transportation & Utilities: 17,600; +100
- Manufacturing: 16,800; +100
- Education & Healthcare: 14,000; no change
- Government: 13,700; +100
- Restaurants & Hotels: 7,700; +200
- Business Services: 6,800; +100
- Financial Services: 4,400; +100
Data is based on the most recent 12 months available, through April 2023 (Data published June 2023 and reports created on June 8,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.