Iowa’s seasonally adjusted unemployment rate dropped to 2.8% in March from 2.9% in February, according to an April 20 report from Iowa Workforce Development. In comparison, the U.S. unemployment rate dropped to 3.5% in March from 3.6% in February.
The state’s labor force added 2,700 new workers. The labor force participation rate increased to 68.2% last month.
The total number of working Iowans rose to 1,675,500 in March. This figure is 4,400 higher than February and 2,000 higher than one year ago.
“March’s strong numbers across the board again demonstrate that Iowa’s economy continues to trend in the right direction,” said Beth Townsend, director of Iowa Workforce Development, in a news release. “Many Iowa industries still feel economic pressure from ongoing inflation. Regardless of national headwinds, Iowa’s employers continue to hire – especially in health care, education, and manufacturing.”
In other workforce related news:
- Iowa establishments added 2,900 jobs in March, lifting total nonfarm to 1,592,900 jobs.
- Private sector employers added most of the jobs, but government also increased (+300) and is now up 5,000 jobs compared to last year while total nonfarm employment added 26,000 jobs.
- Health care and social assistance added the most jobs in March (+1,000), more than offsetting a loss of 700 jobs in February.
- Manufacturing rose in March (+700).
- Financial activities added jobs (+600) with gains in credit intermediation and related activities and insurance.
- Professional and business services gained 400 jobs.
- Job losses were light in March and led by transportation, warehousing, and utilities (-1,000). Firms related to transportation and warehousing have lost 3,600 jobs over the past six months.
- Over the past 12 months, health care and social assistance has gained the most jobs (+6,200).
- Private education is up 4,100 jobs.
- Leisure and hospitality industries have added 5,100 jobs since last March.
- Manufacturing and construction are up 3,900 and 3,800 jobs, respectively.
- The only supersector to show signs of weakness is trade, transportation, and utilities with 3,300 jobs pared over the past 12 months.
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.
