According to a report released Friday morning by Iowa Workforce Development (IWD), the state’s unemployment rate increased from 2.7 percent to 2.9 percent in August, matching the rate from the previous year. Iowa Workforce Development (IWD) Beth Townsend says, “Iowa employers appear to have acted cautiously last month amid ongoing worry about the national economy and rising inflation.” Despite the uptick in unemployment figures, Iowa added 2,400 jobs during the month, and the state’s workforce expanded by 500 individuals. The number of unemployed individuals in Iowa increased to 50,200 in August from 47,700 in July, while the overall labor force participation rate saw a slight dip from 68.8 to 68.7 percent. The Leisure and hospitality sector led with a gain of 2,600 jobs in August, followed by education and healthcare with an increase of 2,400 jobs. Trade and transportation lost 2,200 jobs, and professional and business services declined by 1,100 jobs. Annually, education, health care, and social assistance added the most jobs, with 10,600 new positions created over the past year. Federal unemployment figures also increased from July to August, rising from 3.5 percent to 3.8 percent. County-level statistics are expected to be released early next week.
