Iowa’s unemployment rate went up for the first time in four months in August — moving from 2.8% to 2.9%. Workforce Development Director Beth Townsend says the state is doing well despite several manufacturing layoffs.
“Even though we saw a slight uptick in unemployment…we’re 20,000 jobs over where we were this time last year,” She says. “So we’ve got more people working. We have fewer unemployed, and we have more jobs than we did the same time last year.”
Townsend says concerns about the national economy are part of the issue with manufacturing layoffs. “I think that’s what’s giving employers pause right now. So it’s hard to say if we did see an increase in September, whether that’s related to the layoffs, or whether that’s just uncertainty and anxiety in the economy for now,” Townsend says. “You know maybe some of this will get resolved after the election, because, of course, that’s another X Factor, right?”
Townsend says those who get laid off still have many options. “I mean, we still have over 54,000 open jobs on iowaworks.gov, ” she says. Townsend says Iowa’s economy continues to weather the problems at the national level. “The number of unemployed individuals, while it’s up from July, is down 4,500 from where it was this time last year. So we actually have fewer unemployed than we did a year ago, when we didn’t have all those layoffs,” she says.
The state’s labor force participation rate fell one tenth of a percent to 66.3, which Townsend says was driven by retirements.