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State

Unemployment rate remains at 4.6 percent

Iowa’s seasonally adjusted unemployment rate remained at 4.6 percent in June, but was down from the June 2012 rate of 5.3 percent.  Meanwhile, the U.S. unemployment rate for June was unchanged at 7.6 percent. 

“The Iowa economy posted solid job gains in June, which helped to accelerate job growth for the first half of the year,” said Teresa Wahlert, director of Iowa Workforce Development.  “Over the past few months, hiring has occurred in a wider range of industries.”  

The statewide estimate of unemployed persons increased slightly to 76,500 in June from 76,400 in May.  The current level compares with 87,300 for June 2012.       

The total number of working Iowans rose to 1,577,200 in June from 1,576,700 in May.  Total employment stood at 1,550,300 one year ago.  

Total nonfarm employment posted another strong gain this month (6,500), bringing the total number of jobs in Iowa to 1,530,300.  The last two monthly gains are the largest so far this year and leave the state up 24,800 jobs compared to one year ago.  Private services fueled most of the growth this month as seasonal industries posted stronger-than-expected gains.  Losses were slight and mostly related to educational institutions reducing employment levels for the summer break.

Compared to last June, nonfarm employment is up substantially and is being driven by private service growth (17,000 jobs).  Despite a recent slowdown in hiring, manufacturing still led all sectors in annual growth (5,300).  Professional and business services and financial activities followed with respective gains of 4,500 and 3,900.    

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