April 19, 2024

Iowa’s unemployment rate below average

DES MOINES —Iowa’s seasonally adjusted unemployment rate changed to 4.6 percent in September, a 0.1 percent increase from August. The U.S. unemployment rate dropped to 5.9 percent in September, compared to 6.1 percent in August.

“Iowa’s nonfarm employment reached an all-time high again in September,” said Teresa Wahlert, director of Iowa Workforce Development. “Global uncertainty has started to affect new orders and employment in Iowa’s manufacturing sector.

Fortunately, employment in construction, health care, and finance have been thriving and at or near record levels.”

The number of unemployed Iowans increased to 77,900 in September from 76,500 in August. The current estimate is 3,000 higher than the year ago level of 74,900. The total number of working Iowans increased to 1,629,700 in September from 1,626,400 in August.

This figure was 3,300 higher than August and 33,000 higher than one year ago.

Iowa nonfarm employment added 1,300 jobs in September and now rests at 1,556,200 jobs. Gains in goods producing sectors were more than offset by larger-than-expected losses in private services.

Construction added the most jobs this month with 1,600 following an unexpected loss of 1,200 jobs last month.

This sector has been overwhelmingly positive throughout the year and has added jobs in five of the last six months.

Education and health services also advanced this month due primarily to the steadily increasing health care field.

Financial activities added jobs for the third consecutive month and now rest at a new all-time high of 105,000 jobs.