Des Moines — Iowa’s seasonally adjusted unemployment rate declined slightly to 6.6 percent in December from 6.7 percent in November, continuing a five-month streak of relatively stable unemployment. One year ago, the state’s jobless rate was reported at 4.4 percent. The U.S. unemployment rate remained at 10.0 percent in December.
“The state’s deep cuts in nonfarm employment in December sent a signal that the long-awaited economic recovery remains elusive,” said Elisabeth Buck, director of Iowa Workforce Development. “Companies are still reluctant to hire, making it increasingly difficult for unemployed workers to find jobs.”
The statewide estimate of unemployed workers edged down to 110,800 in December from 111,900 in November, but was 37,100 higher than the December 2008 level of 73,700.
The total number of working Iowans rose slightly to 1,573,000 in December from 1,570,300 in November. One year ago, total employment was 29,900 higher at 1,602,900.
Seasonally Adjusted Nonfarm Employment
Total nonfarm employment in Iowa decreased by 13,200 in December, bringing the total to 1,468,800. The drop was significantly more than expected, and followed two consecutive months of increases. The losses were attributable to the extremely harsh weather that occurred during December, coupled with the prolonged weakness in the Iowa economy. All major sectors contracted in December with the exception of finance, up 600; and government, which remained unchanged.
Trade and transportation declined the most in December, down 4,200 jobs. The majority of the losses were concentrated in retail trade, which reflected a weak hiring pattern for this year’s holiday season. Wholesale trade shed 1,100 jobs; many were related to farm supply and equipment merchants. Elsewhere, leisure and hospitality dropped 3,300 jobs. Restaurants accounted for the largest portion of the drop, down 2,000 jobs. Weather also curtailed many construction projects, causing a drop of 1,900 in the construction sector. Both durable and nondurable goods manufacturing experienced job cuts, resulting in a loss of 1,800 for overall manufacturing. Other services, health services and professional and business services posted drops of less than 1,000.
Compared to last December, the Iowa economy has lost 40,100 jobs. Manufacturing still leads all sectors in terms of losses, down 19,900 over the year. Trade and transportation and construction followed with losses of 7,900 and 7,700, respectively. Education and health services remained the most resilient sector, adding 2,600 jobs since December 2008.
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Iowa unemployment at 6.6 percent
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