Iowa’s seasonally adjusted unemployment rate ticked up to 3.0% in September, up from 2.9% in August, but down from 3.1% a year ago, according to a release from Iowa Workforce Development. Meanwhile, Iowa’s labor force participation rate decreased from 68.7% to 68.6% in September as college students left the workforce to return to school.
The U.S. unemployment rate remained at 3.8% in September, and the national labor force participation rate remained at 62.8%.
The number of unemployed Iowans increased to 52,800 in September from 50,200 in August. The total number of working Iowans decreased to 1,688,200 in September. This figure is 4,200 lower than August, but 22,000 higher than one year ago.
“National economic uncertainty continues to impact sectors like leisure and hospitality and professional and business services, but other industries are continuing to hire,” said Beth Townsend, executive director of Iowa Workforce Development, in a news release.
In other unemployment news:
- Iowa establishments shed 500 jobs in September, lowering total nonfarm employment to 1,585,200. Nonfarm employment has trended down, with job losses in four of the last five months.
- Jobs were gained in September mostly within goods production; however, gains were more than offset by private sector losses in leisure and hospitality along with professional and business services.
- Government shed jobs in September at the local level (-200), yet remains up 2,600 compared to last year.
- Construction added 1,800 in September.
- Jobs also were added in other services in September (+800). The largest movements were in religious, grantmaking, civic, and professional organizations. All other gains were smaller in nature – including manufacturing and information services, both of which added 200 jobs.
- Layoffs in arts, entertainment, and recreation fueled a drop of 1,100 in leisure and hospitality.
- Accommodations and food services increased slightly relative to August (+200).
- Professional and business services shed jobs in September (-1,000). Administrative support and waste management industries pared 900 and was responsible for most of the loss.
- Financial activities posted the only other major loss (-800). Both credit intermediation and real estate rental and leasing shed 400 jobs.
Annually, Iowa has gained 11,400 jobs over the past 12 months. The largest increases have been in education and health care industries (+10,000). Most of the jobs gained were in health care and social assistance (+7,100). Despite the loss in September, leisure and hospitality is up 4,500 since last September. On the other hand, annual job losses were heaviest in professional and business services (-8,200).
