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Iowa Unemployment Rate Drops to 2.5 Percent in July

posted on 8/19/22

DES MOINES, IOWA - Iowa’s seasonally adjusted unemployment rate dropped to 2.5 percent in July, down from 2.6 percent in June and 4.4 percent one year ago. The U.S. unemployment rate decreased to 3.5 percent in July.

The number of unemployed Iowans decreased to 43,300 in July from 43,900 in June. The total number of working Iowans increased to 1,667,200 in July. This figure is 1,800 higher than June and 58,600 higher than one year ago. 

Overall, the state’s labor force participation rate remained at 67.8 percent in July, despite 1,400 Iowans rejoining the labor force. Iowa added a total of 3,800 jobs.

“July’s good news shows that, despite current national economic challenges, Iowa’s economy continues its positive direction,” said Beth Townsend, Director of Iowa Workforce Development. “We are helping workers find new career pathways, and we remain laser focused on reemployment so we can help every Iowan find the right job and every employer find a qualified workforce.”


Seasonally Adjusted Nonfarm Employment

 

Iowa total nonfarm payroll employment advanced by 3,800 jobs in July. This monthly gain was the fourth consecutive increase and was largely due to service industries bolstering payrolls, particularly within professional and business services and health care. While private services again took a step forward this month (+3,100), government also added jobs primarily at the local level and related to temporary summer programs (+700). Following the gain, government now stands 6,100 above last year’s mark while the state is up 33,900 jobs.

Health care and social assistance added the most jobs of any sector in July, gaining 1,300 jobs from June. This sector has been slow to recover since the pandemic began, but growth has been evident in 2022 with 2,300 jobs gained this year. Administrative support, waste management, and remediation industries added 1,000 jobs in July. Much of this increase was fueled by hiring of seasonal staff to help with services to buildings and dwellings, specifically landscaping. Manufacturing added jobs this month (+800) with gains in both durable and nondurable goods factories. This sector continues to trend upward and has added 6,700 jobs in 2022 thus far. Conversely, job losses were most evident in retail trade in July (-800), particularly for miscellaneous store retailers. This decline now marks the fifth straight loss with 3,900 jobs pared during that span. All other losses were sparse in July with small drops in construction (-300), financial activities (-200), and leisure and hospitality (-200).

Over the past 12 months, Iowa firms have added 33,900 jobs. Despite little movement this month, leisure and hospitality has gained the most jobs (+10,100). Accommodations and food services alone are up 8,800 jobs. Manufacturing is now up 7,700 with hiring being slightly greater in nondurable goods factories (+4,600). Food manufacturing, particularly slaughtering and meat packing, has been especially robust. Trade, transportation, and utilities are up 5,000 with hiring being particularly strong in transportation and warehousing.

 

Employment and Unemployment in Iowa, Seasonally Adjusted Data

 

 

 

 

 

 

 

 

 

 

Change from

 

July

June

July

June

July

 

2022

2022

2021

2022

2021

 

 

 

 

 

 

Civilian labor force

1,710,600

1,709,200

1,682,700

1,400

27,900

Unemployment

43,300

43,900

74,100

-600

-30,800

Unemployment rate

2.5%

2.6%

4.4%

-0.1

-1.9

Employment

1,667,200

1,665,400

1,608,600

1,800

58,600

Labor Force Participation Rate

67.8%

67.8%

67.1%

0.0

0.7

 

 

 

 

 

 

U.S. unemployment rate

3.5%

3.6%

5.4%

-0.1

-1.9

 

 

 

 

 

 

Nonfarm Employment in Iowa, Seasonally Adjusted Data

 

 

 

 

 

 

Total Nonfarm Employment

1,575,200

1,571,400

1,541,300

3,800

33,900

Mining

2,300

2,300

2,300

0

0

Construction

79,300

79,600

78,200

-300

1,100

Manufacturing

226,500

226,000

218,800

500

7,700

Trade, transportation and utilities

312,900

312,800

307,900

100

5,000

Information

18,700

18,900

19,100

-200

-400

Financial activities

109,600

109,300

109,300

300

300

Professional and business services

141,300

139,800

139,900

1,500

1,400

Education and health services

226,800

225,300

225,900

1,500

900

Leisure and hospitality

141,200

141,400

131,100

-200

10,100

Other services

56,300

56,400

54,600

-100

1,700

Government

260,300

259,600

254,200

700

6,100

 (above data subject to revision)

 

 

 

 

 

 

Unemployment Insurance Claims for Iowa

 

 

 

 

 

 

 

 

 

 

% Change from

 

July

June

July

June

July

 

2022

2022

2021

2022

2021

 

 

 

 

 

 

Initial claims

6,589

6,420

8,362

2.6%

-21.2%

Continued claims

 

 

 

 

 

     Benefit recipients

9,035

8,889

16,661

1.6%

-45.8%

     Weeks paid

27,641

29,043

61,116

-4.8%

-54.8%

     Amount paid

$11,713,985

$12,478,779

$22,806,572

-6.1%

-48.6%

 

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.

MEDIA ALERT: Local data for July 2022 will be posted to the IWD website on Tuesday, August 23, 2022. Statewide data for August 2022 will be released on Thursday, September 15, 2022 at 9 a.m.

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