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State

Unemployment rate increases to 4.5 percent

DES MOINES – Iowa’s seasonally adjusted unemployment rate increased slightly to 4.5 percent in July from 4.4 percent in June.  The state’s jobless rate stood at 4.8 percent one year ago.  The U.S. unemployment rate was little changed at 6.2 percent in July compared to 6.1 percent in June.

“The state’s labor force continued to expand in July, causing a slight increase in the monthly unemployment rate,” said Teresa Wahlert, director of Iowa Workforce Development.  “Iowa’s labor force has grown steadily this year, and surpassed 1.7 million in July.”

The number of unemployed Iowans increased to 76,900 in July from 74,300 in June.  The current estimate is 3,700 lower than the year ago level of 80,600.

The total number of working Iowans decreased to 1,623,800 in July from 1,624,700 in June.  This figure was 900 lower than June, and 30,300 higher than one year ago. 

Iowa nonfarm employment totaled 1,550,200 jobs in July and remained unchanged since June.  Job gains in the private sector were exactly offset by declines in government.  This month’s stagnation halts three consecutive months of gains in nonfarm employment, and leaves the state up 16,500 jobs versus one year ago (+1.1 percent).

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