Unemployment remained steady for another month while Iowa’s workforce continued to shrink.
The state’s seasonally adjusted unemployment rate was 2.8% in July, unchanged since April and 0.2% lower than July 2023. The state’s labor force participation rate fell to 66.4% from 66.5% in June, with a majority of those leaving the workforce doing so because of retirement.
The total number of working Iowans fell to 1,638,000 in July. This figure is about 3,600 lower than June and 21,200 lower than July 2023.
IWD says Iowa businesses shed 1,500 jobs in July, lowering total non-farm employment to 1,608,700. This loss follows a minor gain in June and is the third decline in the last four months following a recent high in March. Private industries shed 1,000 jobs, with losses heaviest in goods producing industries. Government pared 500 jobs with losses at the local level. Overall, total non farm employment has gained 19,200 jobs over the past year.
