Iowa unemployment rate drops to 3% in April – Omaha, Nebraska

Omaha, Nebraska 2022-05-22 14:12:47 –

According to Friday’s Iowa Labor Development Report, the proportion of the unemployed Iowa workforce continues to decline, approaching pre-pandemic levels.

The state’s unemployment rate fell to 3% in April, down from its peak of 10.5% two years ago.

That percentage was about 2.6% in the months preceding the coronavirus pandemic that began in March 2020.

“Thousands of Iowans returned to the workforce in April and found promising new careers in manufacturing, construction and other industries,” said IWD Director Beth Townsend. “Our economy continues to grow and our workforce continues to grow.”

The national unemployment rate in April was 3.6%, unchanged from March.

The number of new unemployment claims in April in Iowa was 5,290, the lowest in the month since 1973, IWD reported.

The state added 3,300 jobs, driven by manufacturing and construction.

The state-wide workforce has increased slightly since March to about 1.7 million, and the number of unemployed has decreased by 8% to about 51,000.

The labor force participation rate, that is, the number of employees compared to the overall workforce, increased slightly to 67.4%. That percentage was about 70% in the months leading up to the pandemic. In the summer of 2020, the rate dropped to a low of 65.9%.

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Iowa unemployment rate drops to 3% in April Source link Iowa unemployment rate drops to 3% in April

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