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Iowa’s Unemployment Rate Increases to 3.8 Percent in March

News

April 15th, 2016 by Ric Hanson

Iowa’s seasonally adjusted unemployment rate increased slightly to 3.8 percent in March from 3.7 percent in February. Officials with Iowa Workforce Development (IWD) report the state’s jobless rate was 3.7 percent one year ago. The U.S. unemployment rate increased to 5.0 percent in March. The number of unemployed Iowans rose to 65,300 in March from 63,200 in February. The current estimate is 2,400 higher than the year ago level of 62,900. The total number of working Iowans decreased to 1,649,400 in March. That’s 1,600 less than February and 12,100 more than one year ago.

Officials say following a drop last month, Iowa non-farm employment resumed adding jobs in March. The increase of 1,600 was modest, and generally the result of private industry bolstering employment. With this month’s gain, Iowa non-farm employment increased to 1,575,400 jobs total—15,300 jobs more than one year ago.

Construction posted the largest single gain this month, up 3,600. IWD says the gain may partially be the result of firms starting work early this year coupled with the undertaking of new commercial and infrastructure projects. Employment in construction is expected to rise through 2016. Other sectors that added employment this month included trade and transportation, professional and business services, and leisure and hospitality.

Alternatively, the manufacturing sector lost 3,000 jobs.  Particularly hard hit, was those factories producing durable goods, and transportation equipment manufacturers. Education and health care shed 800 jobs this month. The loss was mostly centered within health care. Iowa’s finance sector lost jobs for the first time in several months in March, however, the 500 jobs lost wasn’t severe and the sector remains markedly up compared to one year ago.

IWD Director Beth Townsend says the good news is “Iowa employers are still hiring.” (For more information, go to www.iowaworkforcedevelopment.gov/labor-market-information-division)