Iowa’s seasonally adjusted unemployment rate remained at 3.2% in June, down from 3.5% a year earlier, according to Iowa Workforce Development.
The national unemployment rate fell to 4.2% in June.
The number of unemployed Iowans decreased to 55,200 in June, down from 56,100 in May. The number of working Iowans fell to 1,674,300 in June, down 1,700 from May and unchanged from a year ago. The labor force participation rate dipped to 67.3% in June from 67.4% in May.
Total nonfarm employment in Iowa rose by 600 jobs in June, marking four consecutive months of job gains and a total increase of 7,800 jobs since a recent low in February. Private industry added 1,100 jobs, while government employment fell by 500 jobs and is down 2,400 jobs over the past year. Total nonfarm employment remains 9,500 jobs below last year’s level.
Trade industries added 1,500 jobs since May, with retail gaining the most at 1,000 jobs and wholesale trade adding 500. Wholesale trade has now added jobs for three consecutive months, gaining 1,000 jobs since March, while retail trade has increased for two straight months for a total gain of 3,100 jobs. Wholesale trade hiring was concentrated in durable goods sales, and retail hiring was driven by food and beverage stores.
Finance and insurance gained 600 jobs in June, tied to credit intermediation and related activities.
Manufacturing led job losses in June, shedding 1,000 jobs. Durable goods factories accounted for 700 of those losses, while nondurable goods producers lost 300 jobs and have shed 1,900 jobs since January. Professional and business services lost a combined 700 jobs, with the steepest declines in administrative support and waste management, down 400 jobs.
Over the past 12 months, manufacturing has lost 4,300 jobs, the most of any sector, with nondurable goods factories accounting for 2,500 of those losses. Transportation, warehousing and utilities have shed 3,500 jobs over the same period, with transportation and warehousing responsible for 2,100 of those losses. Professional and business services are down 3,000 jobs from last June, with professional, scientific and technical services accounting for 2,200 of the decline.
Education and health care industries gained 4,500 jobs over the past year, with most of the growth in health care and social assistance, up 3,700 jobs. Construction employment rose by 1,700 jobs annually, and finance and insurance gained 900 jobs following three consecutive months of increases.
“June’s report shows a continuation of slow-but-stable growth across Iowa’s economy,” said Beth Townsend, executive director of Iowa Workforce Development. “Significant new job gains last month in trade and financial industries were partially offset by pullbacks in manufacturing and professional and businesses services. But the state added 600 jobs overall, thanks to small increases across a wide variety of industries. Meanwhile, Iowans searching for work continue to find new careers among the more than 58,000 open positions that are now posted on IowaWORKS.gov.”
