Iowa’s monthly unemployment rate falls to 4.7%
BUSINESS RECORD STAFF Oct 20, 2020 | 4:32 pm
1 min read time272 wordsAll Latest News, Economic Development
More than 1.53 million Iowans were employed in September, up slightly from August, pushing the state’s seasonally adjusted unemployment rate down to 4.7%, Iowa Workforce Development reported today.
In September 2019, Iowa’s seasonally adjusted unemployment rate was 2.8%; in August 2020, it was 6%.
Highlights from today’s release about September unemployment data includes:
Number of working Iowans: 1,536,200, up from 1,520,200 in August. In September 2019, 1,702,500 people worked in the state.
Number of nonfarm jobs in Iowa: 1,495,000, up from 1,493,000 in August. A year ago, the state had 1,584,900 nonfarm jobs.
Number of added leisure and hospitality jobs: 4,000 jobs gained between August (114,600) and September (118,600). “Leisure and hospitality still has some ground to make up,” the state reported in its release.
Number of added manufacturing jobs: 1,400 jobs gained between August (218,900) and September (220,300).
Number of jobs lost in construction: 2,600 jobs lost between August (69,200) and September (66,600).
Number of unemployed Iowans: 76,600, down from 96,500 in August. In April, when a large percentage of the state’s entertainment-related and retail business were ordered closed because of COVID-19, 188,000 Iowans were unemployed. In September 2019, 48,700 Iowans were unemployed.
Number of unemployment insurance claims: 22,890 initial claims were filed, down slightly from the 23,393 new claims filed in August. In September 2019, 7,611 new claims were filed.
Unemployment insurance paid: $84.48 million was paid to unemployed Iowans from the state’s unemployment compensation trust fund. The amount is nearly 13% less than the $96.47 million paid out in August. In September 2019, the state paid unemployed Iowans $18.7 million.
U.S. unemployment rate: 7.9%; in August it was 8.4%.