Overall unemployment rate moved down to 3.5% with the biggest shift in Government, which gained 1,100 roles, based on the most recently available information published in April 2022.
Total employment in the Waterloo-Cedar Falls, IA market rose by 2,011 jobs in February and the unemployment rate decreased compared to the prior month by 100 bps to 3.5%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Waterloo-Cedar Falls, IA unemployment rate is 64 bps below the national rate which is a positive sign.
- Unemployment in the market is 150 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 5.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 2.1% . Key sectors include:
- Transportation & Utilities: 19,400; +300
- Manufacturing: 16,500; no change
- Education & Healthcare: 13,600; no change
- Government: 13,200; +1,100
- Restaurants & Hotels: 7,100; +200
- Business Services: 6,700; +100
- Financial Services: 4,300; no change
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.