Low state unemployment rate is positive sign
Iowa’s rate is much lower than national figure
Iowa continues to lag behind the rest of the nation in one economic category, but in this case, that is a good thing.
Iowa’s unemployment rate for January, the most recent month for which statistics are available, was 3.5 percent.
The national unemployment rate for January was 6.3 percent.
According to Iowa Workforce Development, the state’s unemployment rate inched down slightly from the revised December figure of 3.7 percent.
The state agency reported that about 3,000 non-farm jobs were added between December and January.
The construction industry led the way, adding about 1,000 of those jobs. The manufacturing sector was next, adding about 700 jobs. Other increases were in education and health services (700 jobs), leisure and hospitality businesses (400 jobs) and financial activities (300 jobs).
Iowa Workforce Development estimated that there are 57,400 unemployed people in the state.
While there are still too many Iowans who want a job that are still looking for one, the latest unemployment figures are good news. That fact that the unemployment rate dropped just a little bit is also good news. It is a development that should set the state up for growth through the rest of the year.
This good news probably cannot be attributed to one decision or development. A lot of things had to be done by both government and business leaders to create this result.
We hope government and business leaders keep working together to get our economy into a growth pattern that will benefit everyone.