According to data released this (Thursday) morning by Iowa Workforce Development (IWD), Iowa’s unemployment rate held steady at 2.8 percent in July. This marks the fourth consecutive month rates have stayed at this level. Compared to July 2023, Iowa’s unemployment rate was only 0.2 points lower than a year ago. The state’s labor force participation rate slightly decreased in July to 66.4 percent from 66.5 percent in June, which has primarily been attributed to retirements. IWD Director Beth Townsend says, “July’s report provides evidence of a tightening national economy, consistent with what we are seeing across the country. Some industries, such as advanced manufacturing, have been under pressure for some time, and the impacts of that are beginning to appear in July’s data. However, Iowa’s employers continue to hire, and there are more than 56,000 open jobs available at IowaWORKS.gov. Additionally, our Reemployment Case Management program continues to help Iowans displaced by layoffs and closures find new opportunities and careers.” As for July’s raw figures, the number of unemployed Iowans increased by 1,000, bringing the total to 47,600. The total number of employed Iowans fell by 3,600 to 1,638,000. Businesses in Iowa shed 1,500 jobs in July, with notable losses in goods-producing industries, although education and healthcare sectors offset the losses seen elsewhere. The national unemployment rate rose to 4.3 percent in July. Follow the link included with this story on our website for more information on Iowa’s unemployment data. Local figures are expected to be released early next week.
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