DES MOINES — Iowa’s seasonally adjusted unemployment rate dropped to 4.0 percent in March from 4.1 percent in February. The state’s jobless rate was 4.4 percent one year ago. The U.S. unemployment rate remained at 5.5 percent in March.
“Nonfarm employment increased for the sixth-consecutive month in March, adding 3,300 jobs,” Iowa Workforce Development Director Beth Townsend said. “While the state’s nonfarm employment expanded to an all-time high, the unemployment rate dropped to 4.0 percent, making it the lowest rate since May 2008.”
The number of unemployed Iowans decreased to 67,800, an estimate is 6,200 lower than the year ago level of 74,000.
The total number of working Iowans increased to 1,647,100 in March. This figure is 600 higher than February and 25,500 higher than one year ago.
Iowa’s nonfarm employment posted another gain this month, adding 3,300 jobs. Job growth was fueled primarily by service sectors, with private services gaining a combined 3,100 jobs. The state itself has added 26,900 jobs since last March (+1.7 percent).