American Recovery and Reinvestment Act

    Welcome to Iowa's Economic Recovery
    Saturday, October 25 2014 @ 09:57 PM CDT

    Iowa's March Unemployment Rate is 6.1 Percent

    Kerry Koonce: (515) 281-9646

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    DES MOINES, IOWA – The state’s seasonally adjusted unemployment rate rose slightly to 6.1 percent in March from a revised February rate of 6.0 percent. The comparable rate for one year ago was also 6.1 percent. The U.S. unemployment rate for March edged down to 8.8 percent from 8.9 percent in February, which represented a full percentage drop in the rate since November 2010.

    “The hiring pattern that occurred in March provided further assurance that the Iowa economy is moving the right direction,” said Teresa Wahlert, director of Iowa Workforce Development. “State payrolls grew by 11,400 jobs during the first three months of 2011.”

    The statewide estimate of unemployed persons edged up to 102,700 in March from 101,700 in February, and 101,900 in March 2010. Contrary to the U.S. trend, Iowa’s labor force participation rate has remained strong, which means that it will take a prolonged period of strong job growth to reduce unemployment in the state.

    Employment prospects for Iowans continued to improve in March, as the total number of working Iowans increased to 1,581,200 from the February level of 1,578,900. Total employment stood at 1,567,500 last March.

     

    Seasonally Adjusted Nonfarm Employment

    Total nonfarm employment reached 1,480,500 in March, 4,400 more than last month, and 13,000 more than one year ago. Manufacturing employment continued to trend up, and job gains were also reported for several service-providing industries. The March increase marks the third consecutive month of gains for nonfarm employment, and the fifth increase in the past six months.

    Leisure and hospitality led all sectors in March with a gain of 2,100 jobs. Eating and drinking establishments accounted for most of the increase. Trade and transportation followed with a gain of 1,800; 1,400 of the increase was concentrated in wholesale trade. Manufacturing added 1,400 jobs due to hiring in machinery and transportation equipment. However, gains that occurred in durable goods factories were partially offset by losses in nondurable goods manufacturing. The monthly gain of 1,100 in education and health was primarily due to continued growth in health services. Professional and business services reflected the largest loss for the month, down 1,300.

    Iowa’s nonfarm employment has increased by 13,000 jobs, or 0.9 percent, since March 2010. Trade and transportation contributed the most jobs over the year, adding 5,800. Most of the hiring occurred in wholesale trade and transportation, while retail trade advanced by a slight 300. Leisure and hospitality added 5,200 jobs over the year, showing a strong reversal from the large job losses incurred during the recession. Professional and business services and manufacturing added 2,900 and 2,500, respectively. On the other hand, finance decreased by 1,400 since last March, following a slow, downward trend that began in June 2008. Construction, government and information also registered losses since last March.

    MEDIA ALERT: An audio cut of comments about Iowa’s labor market situation is available by calling (515) 281-6057. Statewide data for April 2011 will be released on May 20, and local data will be available on May 24, 2011.

    Employment and Unemployment In Iowa, Seasonally Adjusted Data

               
           

    Change from

      March
     2011
    February
    2011
    March
     2010
    February
     2011
    March
     2010
    Civilian labor force 1,683,900 1, 680,600 1,669,300 3,300 14,600
    Unemployment 102,700 101,700 101,900 1,000 800
    Unemployment rate 6.1% 6.0% 6.1% 0.1 0.0
    Employment 1,581,200 1,578,900 1,567,500 2,300 13,700
                   
    U.S. unemployment rate 8.8% 8.9% 9.7% -0.1 -0.9
               

    Nonfarm Employment In Iowa, Seasonally Adjusted Data

               
    Total nonfarm employment 1,480,500 1,476,100 1,467,500 4,400 13,000
    Mining 2,100 2,100 2,000 0 100
    Construction 60,500 60,500 61,300 0 -800
    Manufacturing 202,400 201,000 199,900 1,400 2,500
    Trade, transportation and utilities 304,800 303,000 299,000 1,800 5,800
    Information 27,700 27,900 28,900 -200 -1,200
    Financial activities 100,100 100,700 101,500 -600 -1,400
    Professional and business services 123,100 124,400 120,200 -1,300 2,900
    Education and health services 214,400 215,100 213,700 -1,300 2,900
    Leisure and hospitality 135,000 132,900 129,800 2,100 5,200
    Other services 56,600 56,400 57,200 200 -600
    Government 252,400 252,500 253,500 -100 -1,100

     

    Unemployment Insurance Claims For Iowa

               
           

    % Change from

      March
     2011
    February
     2011
    March
     2010
    February
     2011
    March
     2010
    Initial claims 16,416 14,612 21,903 12.3% -25.1%
    Continued claims          
         Number of claimants 54,049 54,572 70,231 -1.0% -23.0%
         Weeks paid 211,435 191,713 263,104 10.3% -19.6%
         Amount paid $64,557,453 $59,116,036 $81,293,612 9.2% -20.6%