Iowa Unemployment Rate Down To 3.9 % In October
Iowans are getting back to work and the statistics are here to prove it. The Iowa Workforce Development released statistics that the unemployment rate dropped in October from September, and from October 2020.
On Friday, the Iowa Workforce Development announced in a press release that Iowa’s seasonally adjusted unemployment rate dropped to 3.9% in October. That is down from the 4% unemployment rate in September and 4.2% one year ago.
Officials say the number of unemployed Iowans decreased to 64,700 in October from 66,200 in September. The total number of working Iowans increased to 1,596,200 in October. This figure is 1,600 higher than September and 34,800 higher than one year ago in 2020.
Officials say that Iowa businesses added 1,000 jobs in October, lifting total nonfarm employment to 1,539,900 jobs. This increase marks the second consecutive gain following a drop in August and the fifth job increase in the last six months.
Retail trade added the most jobs in October, gaining 1,500 jobs versus September.
Beth Townsend, Director of Iowa Workforce Development said in the press release,
“In October, Iowa saw net employment growth for the fifth time in the last six months. Our key challenge remains helping increase the number of applicants employers receive for each opening and getting people who have left the labor market during the pandemic back into the workforce. We are hopeful that our new Reemployment Case Management system will help address both of those issues and significantly reduce the amount of time someone is without a job.”
The labor force participation rate remained steady at 66.8%. The U.S. unemployment rate fell to 4.6%.
Visit www.iowalmi.gov for more information about current and historical data, labor force data, nonfarm employment, hours and earnings, and jobless benefits by county.