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Nonfarm employment in Iowa reaches record

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Nonfarm employment in Iowa increased by 3,200 in November, reaching a record 1,529,300. Meanwhile, the state’s seasonally adjusted unemployment rate was 3.9 percent, unchanged from October but up from 3.5 percent in November 2006.

“Job growth regained momentum in November despite continuing risks to the economy,” said Elisabeth Buck, Iowa Workforce Development director, in a press release. “While the housing spillover to the broader Iowa economy has been limited so far, the housing sector decline is expected to run through most of 2008.”

Nine of the 11 major sectors showed employment gains, with the largest increase being in the trade and transportation sector, where 1,100 jobs were added in November. Manufacturing added 300 jobs after three months of steadily declining employment, while mining and financial activities lost 100 and 400 jobs respectively.

Nonfarm employment is up 23,600 jobs from November 2006, with education and health increasing by 4,800 jobs and the leisure and hospitality sector adding 3,900.