NOTEBOOK – One Good Read: Want to know where the economy is headed? Look at Des Moines.
SUZANNE BEHNKE Jul 9, 2018 | 8:14 pm
1 min read time
220 wordsAll Latest News, Economic Development, The Insider NotebookThe unemployment rate gets a lot of attention each week in business reports. After the high unemployment numbers of 10 years ago during the Great Recession, it feels good to see a low number. But that number, if it’s too low, cuts both ways, according to sources who regularly talk with the Business Record newsroom. Low unemployment means that there are few workers to take the new jobs being created or open jobs that need to be filled. The local economy needs more workers and needs more skilled workers; we’ve reported on that a number of times. Now Des Moines is getting attention in this article from the Atlantic. It looks at the good and bad of that unemployment number. Here’s one excerpt: “Full employment — that magical economic state, in which everyone who wants work has it, and at a good wage too — finally seems to be near. In much of Iowa, it already is. Out of every 100 people who want a job, 98 or 99 have one. The rate of wage growth has doubled of late, and businesses are scrambling to find workers. ‘It does feel like things are a little different in the last year,’ Elisabeth Buck, the president of the United Way of Central Iowa, told me. ‘Businesses are getting a little desperate.’”