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Iowa’s unemployment rate ticks up to 3.2%

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Iowa’s seasonally adjusted unemployment rate in October rose to 3.2%, the third straight month the rate has increased, Iowa Workforce Development reported today. A year ago, the state’s unemployment rate was 3.1%. Also in October, the state’s labor force participation rate slipped to 68.4%, from 68.6% in September. The number of unemployed Iowans increased to 56,000 in October, up from 52,800 in September. “October’s numbers demonstrate that national economic pressures and the federal government’s efforts to slow inflation are having an impact on Iowa,” Beth Townsend, the agency’s executive director, said in a prepared statement. “As we enter the winter, when we traditionally see higher seasonal unemployment rates, we will most likely see these trends continue.” The U.S. unemployment rate in October was 3.9%, up from September when it was 3.8%. For more information about Iowa’s labor market, click here.