Iowa is riding a 62-month gain in the state’s monthly employment index, but the rise isn’t floating the economy, according to a report today from the Iowa Department of Revenue. The department’s Leading Indicators Index fell in November to 106.1 from a revised 106.4 in October. During the six-month span through November, the index decreased 2.1 percent and has dropped at an annualized rate of 4.3 percent. The six-month diffusion index also decreased to 12.5, with seven of the eight components experiencing a decrease of greater than 0.05 percent over the last half year. Average manufacturing hours registered as the only component to show any positive growth in the past six months. Four of eight components of the index made a positive contribution in November: the Iowa stock market index, the national yield spread, average weekly manufacturing hours and residential building permits. The agricultural futures profits index, the new orders index, average weekly unemployment claims (inverted) and diesel fuel consumption were the four components that weighed down the index. Read the full report.