Labor Force Participation Rate Increases to 67.3 Percent Amid 3,900 New Workers
DES MOINES, IOWA – Iowa’s seasonally adjusted unemployment rate rose slightly to 3.6 percent in May, up from 3.5 percent in April, despite 3,900 Iowans joining the labor force. The labor force participation rate rose to 67.3 percent, up from 67.2 percent in April. Meanwhile, the U.S. unemployment rate remained at 4.2 percent.
The total number of unemployed Iowans increased to 62,400 in May from 60,700 in April.
The total number of working Iowans increased to 1,669,100 in May. This figure is 2,100 higher than April and 5,700 higher than one year ago.
“Iowans continued to rejoin the labor force in May, with nearly 4,000 people who were previously on the sidelines coming back to launch their search for a new career,” said Beth Townsend, Executive Director of Iowa Workforce Development. “IWD is well positioned to help connect these people seeking employment with career planners who understand how to work one-on-one to help match those individuals who want to work with the employers who need their skillsets. Despite some pullback in May, Iowa employers currently have more than 50,000 open jobs posted on IowaWORKS.gov.”
Seasonally Adjusted Nonfarm Employment
In May, businesses in Iowa lost 5,200 jobs, lowering total nonfarm employment to 1,593,300. Private service industries were responsible for most of the decline, although goods-producing firms decreased slightly as well. Public education offset some of this loss, fueling a gain of 1,000 jobs added, mostly at the local level. This month’s loss erases two previous consecutive months of job gains in March and April.
