Overall unemployment rate moved down to 3.2% with the biggest shift in Government, which gained 1,200 roles, based on the most recently available information published in April 2023.
Total employment in the Waterloo-Cedar Falls, IA market rose by 1,990 jobs in February and the unemployment rate decreased compared to the prior month by 30 bps to 3.2%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Waterloo-Cedar Falls, IA unemployment rate is 69 bps below the national rate which is a positive sign.
- Unemployment in the market is 30 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 2.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 2.4% . Key sectors include:
- Transportation & Utilities: 18,000; +600
- Manufacturing: 16,600; +100
- Education & Healthcare: 14,000; no change
- Government: 13,700; +1,200
- Restaurants & Hotels: 7,400; no change
- Business Services: 6,600; no change
- Financial Services: 4,400; no change
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.