Iowa’s unemployment rate falls to 2.7%
Business Record Staff May 18, 2023 | 3:29 pm
1 min read time149 wordsAll Latest News, Economic Development
Iowa’s seasonally adjusted unemployment rate in April was 2.7%, a slight drop from March’s rate of 2.8%, Iowa Workforce Development reported today.
Overall, 46,800 Iowans were unemployed in April; in April 2022 there were 40,100 Iowans unemployed.
Iowa’s total nonfarm employment last month was 1,592,800, down slightly from March when nonfarm employment totaled 1,593,100. The April figure was up 26,300 from April 2022, when Iowa’s total nonfarm employment was 1,566,500.
Still, several sectors shed jobs in April. The job losses “were partially offset by gains in goods-producing establishments,” the release said. Specifically, professional and business services shed 1,600 jobs, dropping to 144,000 in April from March’s 145,600. The category of “other services” shed 1,100 jobs, dropping to 55,600 in April.
Bright spots include the manufacturing sector, which added 1,400 jobs, and trade, transportation and utilities, which added 1,200 jobs.
The U.S. unemployment rate in April was 3.4%.