AABP EP Awards 728x90

Iowa unemployment rate holds at 2.9%; construction jobs continue to decline

/wp-content/uploads/2022/11/BR_web_311x311.jpeg

Iowa’s seasonally adjusted unemployment rate remained at 2.9 percent in February, according to a release from Iowa Workforce Development. The state’s jobless rate was 3.4 percent one year ago. The U.S. unemployment rate remained at 4.1 percent in February. The number of unemployed Iowans dropped to 47,900 in February from 48,300 in January. The current estimate is 8,500 lower than the year-ago level of 56,400. The total number of working Iowans rose by 500 last month to 1.625 million in February. The monthly gain follows a downward revision in January in which 2,400 jobs were pared. Private industries were responsible for all of the job growth in February. Administrative support and waste management businesses added 1,000, the most of any segment of the economy, with much of the gain attributed to hiring in temporary staffing agencies. Transportation, warehousing and utilities added 900. Construction shed jobs for the fourth consecutive month, with commercial building construction experiencing larger than expected layoffs.