Iowa’s unemployment rate slips to 2.9%
Business Record Staff Mar 23, 2023 | 3:14 pm
1 min read time174 wordsAll Latest News, Economic Development, Law & Government
Iowa’s seasonally adjusted unemployment rate in February was 2.9%, a slight drop from January’s rate of 3%, Iowa Workforce Development reported today.
February’s rate is the lowest it’s been since August 2022, when it was also 2.9%.
Overall, 50,100 Iowans were unemployed in February; in January, 51,200 Iowans were unemployed.
In February, Iowa’s total nonfarm employment was 1,590,300, up from January’s total of 1,590,000, according to the agency. In February 2022, the state’s total nonfarm employment was 1,567,500. In the past 12 months, 22,800 jobs have been added in Iowa.
However, in February, several sectors shed jobs, mostly due to adverse weather conditions, the agency reported. The construction sector shed 1,600 jobs, dropping to 84,300 in February from January’s 85,900. Education and health services shed 900 jobs, dropping to 233,800 in February from 234,700.
Bright spots include the government sector, which added 1,200 jobs; professional and business services, which added 800 jobs; and manufacturing, which added 700 jobs.
The U.S. unemployment rate in February was 3.6%, up from January’s rate of 3.4%.