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Iowa’s Unemployment Rate Increases Slightly to 3.3 Percent in August

Iowa Workforce Development Communications
For Immediate Release
Date: September 15, 2017
Contact: Cory Kelly
Telephone: 515-330-5646
Email:  cory.kelly@iwd.iowa.gov

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Iowa’s Unemployment Rate Increases Slightly to 3.3 Percent in August

Iowa’s seasonally adjusted unemployment rate increased slightly to 3.3 percent for August. The state’s jobless rate was 3.7 percent one year ago. The U.S. unemployment rate rose to 4.4 percent in August.

“The economy showed some minor improvements in August,” said Beth Townsend, Iowa Workforce Development Director.  “Iowa businesses have steadily added jobs since April and advanced by 2,300 jobs this month with job gains continuing in healthcare, trade, and other services and the labor force participation rate remained at 68.4%.”

The number of unemployed Iowans increased to 55,200 in August. The current estimate is 7,800 lower than the year ago level of 63,000.

The total number of working Iowans decreased to 1,627,800 in August. This figure was 300 lower than July and 9,000 lower than one year ago.

Seasonally Adjusted Nonfarm Employment

August marked the fourth-consecutive gain for total nonfarm employment for the State of Iowa. The monthly increase of 2,300 jobs lifted the total to 1,590,100 jobs. Goods-producing industries were sluggish in August, paring 1,000 jobs. Conversely, service sectors gained 3,300 jobs. In total, five private super sectors lost employment this month versus four that gained employment. Government was unchanged this month with declines at the local and federal levels exactly offsetting the state government gains. Compared to last August, government is down 2,000 jobs due to local government losses.

The education and health services sector added the most jobs in August (+2,500) and was fueled by growth in healthcare and social assistance (+1,900). This month’s gain marks the ninth-straight gain for this super sector. Healthcare and social assistance alone has been responsible for a majority of this job growth. Elsewhere, retail trade expanded again this month (+800) leading to a gain of 1,600 jobs in trade, transportation and utilities. Transportation and warehousing also fared well in August and was up 700 jobs. Other gains this month were seen in other services (+1,300) and professional and business services (+1,000). Losses this month were largest in leisure and hospitality (-1,500) with declines nearly equal in both arts and entertainment (-800) and accommodations and food services (-700). Financial activities posted the first sector loss since last August (-1,300). Finance and insurance industries were responsible for most of the drop (-1,100), although real estate and rental activities shed 200 jobs. Construction has also trended down following record highs last year (-900). This month’s loss marks the fifth-straight decline for this industry.

Annually, nonfarm employment remains up 17,200 jobs. Healthcare and social assistance has been responsible for much of the growth with 9,300 jobs added, more than offsetting the small drop in the partner sector of educational services. Trade, transportation and utilities have gained 5,400 jobs due to expansion in wholesale trade and transportation and warehousing. Aside from information services (-1,500), annual losses have been limited to construction industries (-5,900) which are partly due to the completion of large-scale projects ending over the past twelve months. The preliminary August mark compares closely to the State’s 2014 level before the construction boom began.

MEDIA ALERT:  An audio cut of comments about Iowa’s labor market situation is available by calling (515) 281-6057. Statewide data for September 2017 will be released on Friday, October 20, 2017. Local data for September will be posted to the IWD website on Tuesday, October 24, 2017.

Employment and Unemployment in Iowa, Seasonally Adjusted Data
           
        Change from
  August July August July August
  2017 2017 2016 2017 2016
           
Civilian labor force 1,682,900 1,682,600 1,699,800 300 -16,900
Unemployment 55,200 54,500 63,000 700 -7,800
Unemployment rate 3.3% 3.2% 3.7% 0.1 -0.4
Employment 1,627,800 1,628,100 1,636,800 -300 -9,000
           
U.S. unemployment rate 4.4% 4.3% 4.9% 0.1 -0.5
           
Nonfarm Employment in Iowa, Seasonally Adjusted Data
           
Total Nonfarm Employment 1,590,100 1,587,800 1,572,900 2,300 17,200
Mining 2,500 2,500 2,300 0 200
Construction 75,400 76,300 81,300 -900 -5,900
Manufacturing 214,800 214,900 213,400 -100 1,400
Trade, transportation and utilities 321,800 320,200 316,400 1,600 5,400
Information 21,300 21,600 22,800 -300 -1,500
Financial activities 111,600 112,900 108,200 -1,300 3,400
Professional and business services 142,500 141,500 138,400 1,000 4,100
Education and health services 239,100 236,600 230,100 2,500 9,000
Leisure and hospitality 143,400 144,900 142,100 -1,500 1,300
Other services 60,900 59,600 59,100 1,300 1,800
Government 256,800 256,800 258,800 0 -2,000
 (above data subject to revision)          

 

Unemployment Insurance Claims for Iowa
           
        % Change from
  August July August July August
  2017 2017 2016 2017 2016
           
Initial claims 8,659 9,301 8,466 -6.9% 2.3%
Continued claims          
     Number of claimants 21,307 21,882 24,920 -2.6% -14.5%
     Weeks paid 76,942 67,714 88,355 13.6% -12.9%
     Amount paid $27,873,073 $24,274,999 $31,565,846 14.8% -11.7%

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