A report released today (Monday) by Iowa Workforce Development (IWD) shows the state’s unemployment rate held steady at 3.0 percent for January 2024. Initial unemployment numbers for December 2023 came in at 3.2 percent but were revised to 3.0 percent after additional data became available. Current rates for Iowa are only 0.1 percentage points higher than a year ago. The total number of unemployed Iowans decreased by 1,100 to 50,900, but the total number of working Iowans also dropped in January by 1,200 to 1,653,800, leading to a 0.2-point decrease in the labor force participation rate to 67.3 percent. IWD Director Beth Townsend says, “January’s report was mixed. On the positive side, it shows the total number of nonfarm jobs remains 12,700 above last year’s total, even after retail businesses pared 2,000 jobs following the holidays. We also saw 2,300 people leave the workforce voluntarily in January. Given we have over 58,000 job openings currently in Iowa, it is important we retain the Iowans in the workforce and recruit those who have dropped out. We help Iowans find great career opportunities every day, and we encourage those who have been out of the workforce for a period of time to get in touch. We can help you find your next great career.” Despite the challenging environment, IWD data show Iowa gained 12,700 jobs over the last 12 months. The federal unemployment rate held steady at 3.7 percent in January. Local unemployment figures are slated to be released late next week.
