Iowa mirrored national trends as unemployment in the state ticked higher by two-tenths of a percentage point to 2.9 percent in October 2022. According to a report released this (Thursday) morning by Iowa Workforce Development (IWD), the total number of unemployed Iowans climbed to 49,700, up 1,200 from September but 16,600 below October 2021’s figures. State officials note the increase comes as an estimated 2,200 Iowans joined the labor force seeking work as employers added 4,500 jobs statewide. Iowa’s labor participation rate held steady at 67.7 percent, which outpaced the national rate of 62.2 percent. There are some positives to glean from October’s report. IWD Director Beth Townsend says, “Strong hiring across the state, including in October, has helped Iowa regain a total of 170,700 jobs—overcoming the 169,800 jobs lost since the beginning of the pandemic. IWD remains committed to pairing job seekers with a successful career and with employers eager to build their workforce.” The U.S. unemployment rate for October was 3.9 percent. IWD will release county-by-county figures on Tuesday, Nov. 22.
