Iowa’s unemployment rate drops to 2.7% in May
Iowa’s seasonally adjusted unemployment rate fell to 2.7% in May, the fifth straight month the rate has declined, Iowa Workforce Development reported today. In April the state’s unemployment rate was 3%, and in May 2021 it was 4.5%. According to the release, the number of unemployed Iowans fell to 46,800 in May from 50,900 in April. In addition, the state’s labor participation rate grew to 67.6% in May. In April, it was 67.4%. Iowa’s seasonally adjusted total nonfarm employment in May was 1,565,000, down 500 from April. Among the sectors that saw job losses between April and May were construction (down 2,100 jobs); trade, transportation and utilities (down 900 jobs) and education and health services (down 500 jobs). Sectors that saw job growth included financial activities (up 1,300 jobs) and manufacturing (up 1,000 jobs). The U.S. unemployment rate in May remained at 3.6%.