Overall unemployment rate moved down to 2.4% with the biggest shift in Government, which gained 1,100 roles, based on the most recently available information published in November 2022.
Total employment in the Waterloo-Cedar Falls, IA market rose by 1,021 jobs in September and the unemployment rate decreased compared to the prior month by 50 bps to 2.4%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Waterloo-Cedar Falls, IA unemployment rate is 92 bps below the national rate which is a positive sign.
- Unemployment in the market is 110 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 8.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.4% . Key sectors include:
- Transportation & Utilities: 18,800; +300
- Manufacturing: 17,000; -100
- Education & Healthcare: 13,700; no change
- Government: 13,000; +1,100
- Restaurants & Hotels: 7,500; -100
- Business Services: 6,700; -100
- Financial Services: 4,300; no change
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.