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Iowa’s unemployment rate drops to 3.6 percent

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Despite economic concerns nationwide, Iowa’s seasonally adjusted unemployment rate dropped to 3.6 percent in January from 3.8 percent in the previous month, and also was lower than the 3.7 percent rate in January 2007. The number of workers in Iowa also increased to 1,612,600 in January from 1,602,800 in December and 1,596,300 in January 2007.

“The Iowa labor market grew at a moderate pace in January, while the national economy showed serious signs of faltering,” said Elisabeth Buck, director of Iowa Workforce Development, in a press release.

Nonfarm employment in Iowa totaled 1,522,900 in January, a 1,900 gain from December, primarily from a 3,900-job gain in the service sector. Meanwhile, construction was down 1,000 jobs and manufacturing lost 900 jobs. The largest increases over the month occurred in trade and transportation and in government, with each sector adding 1,600 jobs. Professional and business services added 800 jobs and the finance industry increased by 400 jobs.