Overall unemployment rate moved down to 3.1% with the biggest shift in Transportation & Utilities, which lost 300 roles, based on the most recently available information published in May 2023.
Total employment in the Waterloo-Cedar Falls, IA market declined by 64 jobs in March and the unemployment rate decreased compared to the prior month by 10 bps to 3.1%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Waterloo-Cedar Falls, IA unemployment rate is 52 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 March versus prior month by 1.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.5%. Key sectors include:
- Transportation & Utilities: 17,600; -300
- Manufacturing: 16,600; no change
- Education & Healthcare: 14,000; no change
- Government: 13,600; -100
- Restaurants & Hotels: 7,500; +100
- Business Services: 6,700; no change
- Financial Services: 4,300; -100
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.