Overall unemployment rate stayed flat at 2.3% with the biggest shift in Transportation & Utilities, which lost 400 roles, based on the most recently available information published in June 2022.

Total employment in the Waterloo-Cedar Falls, IA market declined by 244 jobs in May and the unemployment rate stayed flat. The national unemployment rate increased by 4 bps over the same time to 3.4%.

  • Waterloo-Cedar Falls, IA unemployment rate is 108 bps below the national rate which is a positive sign.
  • Unemployment in the market is 210 bps below the unemployment rate in the market last year at this time, which is a positive.
  • Average wages (per hour) grew in May versus prior month by 8.9% and are up compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
Waterloo-Cedar Falls, IA Unemployment May 2022

For key employment segments of the market, total jobs declined by -0.1%. Key sectors include:

  • Transportation & Utilities: 18,700; -400
  • Manufacturing: 16,800; +100
  • Education & Healthcare: 13,700; no change
  • Government: 13,300; -100
  • Restaurants & Hotels: 7,400; +200
  • Business Services: 6,700; no change
  • Financial Services: 4,400; +100
Waterloo-Cedar Falls, IA Unemployment by Industry May 2022

Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022).  Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.