Iowa’s unemployment rate has dropped below three percent for the first time since the onset of the COVID-19 pandemic, according to the latest figures released by Iowa Workforce Development (IWD). The state’s seasonally adjusted rate for May 2022 declined for the fifth consecutive month to come in at 2.7 percent. That is 0.3 points lower than the April 2022 figure and 1.8 points lower than a year ago. The number of working Iowans climbed to 1.66 million with a labor participation rate of 67.6 percent. IWD Director Beth Townsend says, “The May report is outstanding and welcome news! Every month that passes brings us closer to Iowa’s pre-pandemic employment level. But our real goal is higher. We want to continue to accelerate the recovery and get as many of Iowa’s 85,000 open jobs filled as quickly as we can.” The national May 2022 unemployment rate was measured at 3.6 percent. IWD is expected to release county-by-county figures tomorrow (Tuesday).
