Iowa jobless rate up slightly
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By Dan Gearino | Wednesday, August 22, 2007 |
DES MOINES — Iowa’s jobless rate increased in July, the highest level since March of last year, signaling a gradual slowdown in the job market.
The seasonally adjusted jobless rate was 3.9 percent, up from 3.8 percent in June, according to figures released Tuesday by Iowa Workforce Development.
“There are some indications that the job market may be easing up slightly, but the fundamentals still remain quite solid,” according to a statement from Elisabeth Buck, the newly appointed director of the work force agency. “The latest economic news is consistent with earlier reports that job growth will be slower through the rest of the year.”
The total number of employed Iowans dropped by 2,600, to 1,596,400.
Looking at specific industries, trade and transportation lost 2,100 jobs, government lost 1,500 and professional services lost 700. The biggest gainer was education and health services, which was up 1,900.
Scott County’s jobless rate was 3.7 percent in July, down from 3.8 percent in June. Muscatine County’s jobless rate was 3.1 percent in July, down from 3.5 percent in June.
The county rates are not seasonally adjusted. Because of this and because of the smaller populations involved, the county rates often have more rapid fluctuations than the state rates.
Mike Ralston, president of the Iowa Association of Business and Industry, said the jobless rate, despite recent gains, is still very low. From a business owner’s perspective, he said, the low rate means a small supply of available workers and difficulty finding qualified job candidates.
“We cannot find enough skilled workers,” Ralston said.
He said an increase in the jobless rate may help some employers if it expands the pool of qualified workers.
Dan Gearino can be contacted at (515) 243-0138 and dan.gearino@lee.net. Comment on this story at qctimes.com.
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