Iowa's Unemployment At Lowest Level In 16 Years

DES MOINES, IA — Nearly 10,000 fewer Iowans were out of work in October than during the same month a year ago, the Iowa Workforce Development reported Friday. The estimated 51,000 people put unemployment at 3 percent, the lowest level since January 2001.

A year ago the jobless rate was 3.6 percent, the department reported. Nationally the unemployment rate fell to 4.1 percent in October.

"Our biggest gains this past month occurred in the manufacturing sector, which is the backbone of many of Iowa's rural communities and economy at large," said Beth Townsend, Iowa Workforce Development director. "This sector has grown 6,000 jobs in the last year."

Townsend said the low unemployment rate also was "great news for Iowa's economy as we move into the holiday season."

The current estimate of unemployed Iowans is 9,800 lower than in October 2016, when 60,800 people were out of work. The total number of working Iowans increased to 1,635,700 in October, which was 3,400 higher than September and 500 lower than one year ago.

Image via Pixabay