Overall unemployment rate moved up to 2.7% with the biggest shift in Government, which lost 1,100 roles, based on the most recently available information published in August 2022.
Total employment in the Waterloo-Cedar Falls, IA market declined by 131 jobs in June and the unemployment rate increased compared to the prior month by 40 bps to 2.7%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- Waterloo-Cedar Falls, IA unemployment rate is 114 bps below the national rate which is a positive sign.
- Unemployment in the market is 230 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 9.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.4%. Key sectors include:
- Transportation & Utilities: 18,600; -200
- Manufacturing: 17,100; +300
- Education & Healthcare: 13,400; -300
- Government: 12,300; -1,100
- Restaurants & Hotels: 7,600; +100
- Business Services: 6,800; +100
- Financial Services: 4,300; no change
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.