Iowa’s seasonally adjusted unemployment rate fell slightly to 3.3% in March, down from 3.4% in February and below the 3.6% rate recorded a year ago, according to Iowa Workforce Development.
The U.S. unemployment rate stood at 4.3% in March.
The number of unemployed Iowans declined to 58,100, down from 58,700 in February. The total number of working Iowans dropped to 1,680,700 — 2,200 fewer than February, though 7,200 more than a year ago. The labor force participation rate edged down to 67.7%, from 67.8% in February.
Total nonfarm employment fell by 500 jobs to 1,575,800 in March, the third monthly decline in the past four months.
Iowa employers have shed 5,800 jobs since November and 20,700 jobs compared with a year ago. Private industry accounts for 18,900 of the annual loss, with government down 1,800 jobs.
Health care and social assistance led all sectors with 1,100 jobs added in March, driven largely by firms serving elderly and disabled populations. The sector has added 4,300 workers over the past year, reaching an all-time high. Retail trade posted its first monthly gain since November, adding 400 jobs, fueled by motor vehicle and parts dealers and sporting goods and hobby retailers. Smaller gains came in transportation and warehousing (+300) and management of companies and enterprises (+200).
Administrative support and waste management shed the most jobs in March, losing 1,000 positions, with landscaping and janitorial services accounting for most of that decline. Finance and insurance lost 500 jobs, primarily through layoffs among insurance agents and related activities. Wholesale trade and manufacturing each dropped 300 to 500 jobs.
Over the past year, manufacturing has lost the most jobs of any sector, down 3,800 positions, with durable goods factories producing heavy equipment responsible for 3,100 of those losses. Retail trade trails last March by 3,200 jobs, wholesale trade by 3,000 and transportation and warehousing by 2,600. Construction is a relative bright spot, up 1,200 jobs annually, with heavy and civil engineering projects driving the gain.
Beth Townsend, executive director of Iowa Workforce Development, said health care remains a standout in the monthly data.
“While other sectors have had ups and downs in recent months, health care and social assistance added 1,100 jobs in March and is now up 4,300 workers over the past year, continuing to build upon an all-time high,” Ms. Townsend said. “With more than 54,000 open positions on IowaWORKS.gov, Iowa continues to have numerous opportunities for anyone interested in careers in health care or any other field of interest.”
