Iowa Unemployment Rate Drops to 4.2 Percent

From Iowa Workforce Development

down arrowIowa’s seasonally adjusted unemployment rate fell to a post-recession low of 4.2 percent in December from a revised November rate of 4.3 percent. The comparable rate for December 2012 was 5.0 percent. The U.S. unemployment rate for December dropped to 6.7 percent from 7.0 percent in November, as more people left the labor force.

“In contrast to the national trend, Iowa made considerable progress toward expanding its labor force in 2013,” said Teresa Wahlert, director of Iowa Workforce Development. “The state’s labor force grew in response to the increase in total employment, which surpassed 1.6 million in December.”

The statewide pool of unemployed persons dropped to 70,200 in December, its lowest level for the year. The December estimate was down from 72,100 in November and 81,700 one year ago.

The total number of working Iowans increased to 1,602,300 in December from 1,593,300 in November. The current figure is 53,400 higher than one year ago.