Iowa’s unemployment rate has dropped its lowest level in nearly 19 years.
Iowa Workforce Development spokesman Cory Kelly says the state’s jobless rate in October dipped to 2.4%. “The last time we saw this rate was in March of 2000,” Kelly said. “That 2.4% keeps us second in the nation.” Only Hawaii, at 2.3%, has a lower unemployment rate than Iowa.
“The number of unemployed Iowans decreased to 41,200 in October and that current estimate is 8,000 lower than the year ago level of 49,200,” Kelly said. The IWD report shows the construction and manufacturing sectors are responsible for the bulk of Iowa’s job growth since October of 2017.
According to Kelly, construction added 1,600 jobs last month and has now recorded nine consecutive months of job gains. Iowa manufacturers added 1,900 jobs in October.
“Annually, manufacturing is up 9,000 jobs to lead all sectors,” Kelly said. The total number of working Iowans increased to 1,647,100 in October. That’s an increase of 21,300 compared to one year ago.
“More Iowans are working today than ever before,” Kelly said. The U.S. unemployment rate remained at 3.7% in October.