Overall unemployment rate moved up to 2.9% with the biggest shift in Government, which gained 600 roles, based on the most recently available information published in September 2022.
Total employment in the Waterloo-Cedar Falls, IA market declined by 446 jobs in August and the unemployment rate increased compared to the prior month by 20 bps to 2.9%. The national unemployment rate stayed flat over the same time period at 3.8%.
- Waterloo-Cedar Falls, IA unemployment rate is 89 bps below the national rate which is a positive sign.
- Unemployment in the market is 140 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 4.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Transportation & Utilities: 18,500; -100
- Manufacturing: 17,100; -100
- Education & Healthcare: 13,700; no change
- Government: 11,900; +600
- Restaurants & Hotels: 7,600; no change
- Business Services: 6,800; no change
- Financial Services: 4,300; no change
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.