Iowa WorkForce Development is reporting a 3.6 percent unemployment rate for the state in February, staying steady with the revised January numbers. The state’s jobless rate one year ago was at 2.9 percent. “February was an unusually cold month for an extended period of time and thankfully, our unemployment rate remained very close to the January rate,” says Director Beth Townsend. “We anticipate with the improvement in the weather and wider distribution of vaccine, we will see a larger decrease in the unemployment rates this spring.” The total number of working Iowans was at 1,570,300 in February, 3,200 higher than the month prior and up by 47,900 over April of 2020. There were some adjustments reflected in the February numbers that had Iowa establishment payrolls eliminating jobs. This breaks a two-month streak of job gains. The drop was largely the result of private sector losses and partially influenced by the unusually cold weather as winter storms hampered economic activity in much of the U.S. in February. Construction lost the most jobs, 5,500, while professional and business services shed 1,700 jobs—the second consecutive decline in this sector, largely due to reductions in temporary health and landscaping services. Manufacturing added 2,200 jobs while leisure and hospitality industries unexpectedly added around 1,200 positions in February.
