DES MOINES, IOWA – Iowa’s seasonally adjusted unemployment rate increased slightly to 2.9 percent in August, ending a four-month stint at 2.8 percent. Driven primarily by retirements, the state’s labor force participation rate fell to 66.3 percent from 66.4 percent in July. Meanwhile, the U.S. unemployment rate decreased to 4.2 percent.
“National headwinds continue to cause Iowa employers some collective concern about uncertainty in the U.S. economy,” said Beth Townsend, Executive Director of Iowa Workforce Development. “This might explain the sluggish hiring we are seeing now. However, opportunities still exist, as Iowa’s unemployment level remains low and there are more than 54,000 job openings posted on IowaWORKS.gov. IWD career planners can help match anyone ready to work with those employers who are ready to hire.”
The number of unemployed Iowans increased to 48,400 in August from 47,600 in July.
The total number of working Iowans fell to 1,635,400 in August. This figure is 2,400 lower than July and 20,300 lower than one year ago.
Seasonally Adjusted Nonfarm Employment: Total nonfarm employment decreased slightly in August by shedding 600 jobs and lowering the total to 1,609,400 jobs. This loss follows a similar decline of 200 jobs last month and was the result of private service firms lowering staffing levels over the last 30 days. Goods-producing firms, including manufacturing and construction, advanced slightly since July, gaining 400 jobs. Government (a sector that includes federal, state, and local political subdivisions, as well as schools, universities, and public hospitals) also added 400 jobs. Hiring was divided between state, local, and federal institutions and now rests up 3,900 jobs annually. Total nonfarm employment overall has gained 20,100 jobs over the past year.
