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Unemployment rate up slightly for February

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March 25th, 2016 by Ric Hanson

The state unemployment rate moved up two-tenths of a percent in February to three-point-seven percent. Iowa Workforce Development spokesperson Courtney Greene, says it has been a long time since the rate went up. “This is the first increase since 2009, and it’s not surprising given the number of recent layoff announcements over recent months. The silver lining for workers experiencing layoffs is, they are finding employment,” Greene says.

The unemployment rate is the same as it was one year ago in February. Greene says almost all segments of the Iowa economy scaled in the month, with the private sector losing five-thousand jobs. “Government was down 12-hundred jobs due to a decline in local government. Private sector losses were largest in leisure and hospitality this month — down 31-hundred — and accommodations and food services experienced most of the decline. Although the loss was large, it is the first since July for this super sector,” Green says. “In addition, professional and business services trended down for the fourth consecutive month, fueled by losses in administrative and support services.”

The Workforce Development report says education and health services added 22-hundred jobs this month and has been steadily climbing due to the demand for health care services. The only other major sector to add jobs this month was financial activities — up 500 jobs in February. Greene says there are more Iowans working compared to last year, despite the February increase in the unemployment rate.

“You know, the number of Iowans working increased to one-million-651-thousand-100 in February, up 19-hundred from January, and we are still up 13-thousand-700 jobs from a year ago,” Greene says. The U-S unemployment rate remained at four-point-nine percent in February.

(Radio Iowa)