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News
Iowa
Jobless Rate Climbs to 3.9 Percent in May
Posted 25 June 2008
The state’s seasonally adjusted unemployment rate increased to 3.9
percent in May, up 0.4 percent compared to April. One year ago, the
Iowa jobless rate was reported at 3.8 percent. The last time that the
statewide unemployment rate was as high as 3.9 percent was in March
2006.
“Iowa’s unemployment rate increased by four-tenths of a percentage
point in May despite some resiliency within the Iowa economy,” said
Elisabeth Buck, director of Iowa Workforce Development. “The state’s
job market has become weaker in recent months due to the effects of a
nationwide housing slowdown and soaring energy prices.”
Total employment for May decreased to 1,614,300. This is 2,400 lower
than April and 16,600 higher than the May 2007 level.
The statewide estimate of unemployed persons rose to 65,500 in May from
58,800 in April. The number of unemployed persons stood at 62,400 for
the same month one year ago.
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