Iowa’s unemployment rate held steady at 2.7 percent in July as the state labor force participation rate returned to pre-pandemic levels. The state’s labor force welcomed 2,700 new workers, leading to an uptick in Iowa’s labor force participation rate to 68.8 percent. This figure matches the participation rate from March 2020. The total number of employed Iowans reached 1,694,300 in July, marking a 1,300 increase from June and a 22,900 increase from last year. The number of unemployed Iowans rose from 46,300 in June to 47,700 in July. Despite the ongoing national economic uncertainty, Iowa’s labor force participation has risen for five consecutive months. Iowa Workforce Development (IWD) Director Beth Townsend says, “Over 65,000 job opportunities still exist in our state, and Iowa Workforce Development stands ready to help connect Iowans to these great opportunities. We can also help employers who are looking for workers by connecting them with valuable tools and resources that will help them develop their talent pipelines.” Iowa businesses have added 14,400 jobs compared to last year. However, July recorded a decrease of 5,300 jobs, particularly in the service and goods-producing industries. The U.S. unemployment rate dropped from 3.6 percent in June to 3.5 percent in July. IWD will release local unemployment numbers early next week.
