Iowa’s seasonally adjusted unemployment rate peaked for the year at 3.9 percent in July as hiring cooled considerably, according to Iowa Workforce Development. The rate was up from 3.8 percent in June and 3.7 percent in July 2006 and was the highest jobless level recorded since January 2006.

“There are some indications that the job market may be easing up slightly, but the fundamentals still remain quite solid,” said IWD Director Elisabeth Buck. “The latest economic news is consistent with earlier reports that job growth will be slower through the rest of the year.”

Nonfarm employment in Iowa dropped to 1,521,400 in July, which is 1,900 fewer jobs than the all-time record of 1,523,300 set in June. Trade and transportation lost 2,100 jobs, government dropped 1,500 positions and professional and business services declined by 700 jobs. An increase of 1,900 positions in education and health services helped partially offset the downward trend. Nonfarm employment is still up 19,600 from July 2006.