The Director of the University of Iowa’s Institute for Economic Research says there’s evidence the state’s economy is improving. Charles Whiteman says that the evidence isn’t overwhelming — but it is positive He says the average weekly hours in manufacturing turned up, housing starts turned up, the purchasing managers’ index in September was up, and their income forecasts call for a turn in the fourth quarter of the year.
Whiteman says all those things add up to good news. Whiteman says they are beginning to see evidence in various areas that “the end is in sight.” Whiteman expects depressed state tax revenues to begin rising early next year as personal income increases.
However, Whiteman is predicting Iowa’s unemployment rate will hold steady until late next year as employers extend work hours for their workforce rather than immediately hiring new workers.