Iowa Nonfarm Jobs Increase by 8,400 in November

Iowa Workforce Development Communications
For Immediate Release
Date: December 18, 2015
Contact: Courtney Greene
Telephone: 515-281-9646
Email:  courtney.greene@iwd.iowa.gov

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Iowa Nonfarm Jobs Increase by 8,400 in November

DES MOINES, IOWA – Iowa’s seasonally adjusted unemployment rate continued to drop in November, falling to 3.4 percent from 3.5 percent in October. The state’s jobless rate was 4.3 percent one year ago. The U.S. unemployment rate remained at 5.0 percent in November.

“Iowa’s businesses showed unmistakable optimism in November,” said Beth Townsend, director of Iowa Workforce Development. “This month’s increase is the highest in several years and includes job gains in virtually all industries. Additionally, Iowa’s unemployment rate trended down to the lowest level since 2001.”

The number of unemployed Iowans fell to 58,700 in November from 60,400 in October. The current estimate is 15,000 lower than the year ago level of 73,700.

The total number of working Iowans increased to 1,647,500 in November. This figure was 3,100 higher than October and 6,500 higher than one year ago.

Seasonally Adjusted Nonfarm Employment

Iowa’s total nonfarm employment advanced by 8,400 jobs in November and now rests at 1,584,700 jobs. This month’s unusually large increase follows a quiet October which saw almost no change in the number of jobs. Private industries combined for all of the gain this month; government pared 600 jobs with losses at the state and local level. Overall, employment in the state has continued to trend up, and Iowa has added an average of 2,300 jobs per month totaling 27,300 jobs added over the past twelve months. Private industries have advanced by 28,200 jobs and government is down slightly (-900).

This month, virtually all private industries expanded. The largest private sector gain was in construction (+3,700) and follows consecutive months of declines totaling 1,500 jobs. Leisure and hospitality also increased this month (+3,300) with hiring being heaviest in accommodations and food services. Like construction, this sector is also rebounding from a recent loss. Elsewhere, retail trade helped fuel a gain of 2,300 in trade, transportation, and warehousing. Smaller gains occurred in financial activities (+600) and education and health services (+400). Losses this month were limited to professional and business services (-2,100) and follows three consecutive months of unusually high gains.

Since last November, the largest annual increase occurred in construction (+7,200). This sector has also added the most jobs by percentage (+9.3 percent versus +1.8 percent for Iowa). Education and health is second in terms of growth (+5,400) followed by leisure and hospitality (+4,400). Information services leads all private sectors in jobs lost (-600) due to restructuring and transformation of the sector. Manufacturing is down due to cutbacks within durable goods factories (-500). These losses have been partially offset by hiring at nondurable goods locations.

MEDIA ALERT:  An audio cut of comments about Iowa’s labor market situation is available by calling (515) 281-6057. Statewide and local data for December 2015 will be released on Tuesday, January 26, 2016.

 

Employment and Unemployment In Iowa, Seasonally Adjusted Data         Change from   November  2015 October 2015 November  2014 October  2015 November  2014 Civilian labor force 1,706,200 1,704,800 1,714,700 1,400 -8,500 Unemployment 58,700 60,400 73,700 -1,700 -15,000 Unemployment rate 3.4% 3.5% 4.3% -0.1 -0.9 Employment 1,647,500 1,644,400 1,641,000 3,100 6,500                 U.S. unemployment rate 5.0% 5.0% 5.8% 0.0 -0.8             Nonfarm Employment In Iowa, Seasonally Adjusted Data             Total nonfarm employment 1,584,700 1,576,300 1,557,400 8,400 27,300 Mining 2,100 2,100 2,300 -0 -200 Construction 84,300 80,600 77,100 3,700 7,200 Manufacturing 215,000 214,400 215,500 600 -500 Trade, transportation and utilities 318,000 315,700 315,700 2,300 2,300 Information 24,600 24,500 25,200 100 -600 Financial activities 107,600 107,000 104,700 600 2,900 Professional and business services 140,500 142,600 136,400 -2,100 4,100 Education and health services 229,500 229,100 224,100 400 5,400 Leisure and hospitality 143,700 140,400 139,300 3,300 4,400 Other services 62,200 62,100 59,000 100 3,200 Government 257,200 257,800 258,100 -600 -900