(C) Iowa Capital Dispatch
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Iowa’s jobless rate drops to pre-pandemic levels [1]
['Clark Kauffman', 'More From Author', '- July']
Date: 2022-07-21
Iowa’s seasonally adjusted unemployment rate dropped to 2.6 percent last month, on a par with pre-pandemic employment levels.
The June unemployment represented a slight decrease from May’s 2.7%. Iowa businesses added 5,100 jobs in June, according to Iowa Workforce Development, with the Labor Force Participation Rate nudging upward from 67.6 percent in May to 67.8% in June.
Nationally, the unemployment rate remained at 3.6 percent in June, the same level recorded in May.
The total number of working Iowans increased to 1,665,500 in June – an increase of 8,200 over May, and an increase of 57,900 over that same period one year ago. The number of unemployed Iowans decreased to 43,900 in June from 46,800 in May, IWD said.
In a written statement Gov. Kim Reynolds said Iowa has “created an environment where employers want to hire and move past the challenges of the past two years, and where more employable Iowans are eagerly joining the workforce. I’m proud of how far we’ve come and I’m optimistic about the future of Iowa’s workforce.”
“The progress in June speaks for itself,” said Beth Townsend, the director of IWD.
June’s gain of 5,100 jobs lifted total nonfarm employment to 1,572,800, and marked the third consecutive increase with 10,400 jobs added since March. Total nonfarm employment is now up 42,100 jobs over last year.
Services, in both government and private industry, were responsible for most of the movement. Government gained 2,700 jobs due mostly to seasonal summer jobs.
The leisure and hospitality sector added the most private-sector jobs in June, resulting partly from food-service industry hires that heavily influenced by seasonal gains in recreational camps. Manufacturing added 700 jobs with hiring being nearly split between durable-goods and nondurable-goods factories.
Over the past twelve months, leisure and hospitality added the most jobs – more than 15,000 — with most of those gains tied to accommodations and food services.
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https://iowacapitaldispatch.com/2022/07/21/iowas-jobless-rate-drops-to-pre-pandemic-levels/
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