Data released this morning (Thursday) from Iowa Workforce Development (IWD) shows the state’s unemployment rate climbed to 3.1 percent in November. That is a two-tenths point increase from October despite reports of employers adding an estimated 500 jobs last month. The total number of unemployed Iowans rose by 2,700 from 49,700 in October to 52,400 in November. Iowa’s labor participation rate held steady at 67.7 percent, more than five points higher than the national rate of 62.1 percent. IWD Director Beth Townsend says, “Historical trends during the holiday season and throughout the winter months tend to show a rise in unemployment. On balance, Iowa employers kept hiring in November despite indications about the potential for future downturns. As companies continue to navigate the ripples from record inflation and supply chain issues, Iowa still has almost 79,000 open jobs.” She notes that figure far exceeds the number of Iowans who are currently unemployed. The U.S. Unemployment rate for November 2022 stood at 3.7 percent. County-by-county unemployment numbers are expected to be released early next week.
