Iowa's Unemployment Rate Drops to 18-year Low

August 23, 2018

Iowa’s seasonally adjusted unemployment rate dropped to 2.6 percent in July—the second lowest in the nation, tied with North Dakota. One year ago, the state’s jobless rate was 3.1 percent.

According to Iowa Workforce Development (IWD), job gains were largest in manufacturing this month (+1,300) and follow another moderate gain of 900 jobs in June. The financial activities sector added 600 jobs in July and continues to expand its footprint in the Iowa economy.

In these hyper-competitive hiring conditions, Gov. Kim Reynolds and IWD are touting the upcoming Future Ready Iowa summits as one way to develop talent pipelines. The goal of the Future Ready Iowa Initiative is to ensure 70 percent of Iowans achieve education or training beyond high school by 2025. Registration is open for 12 Future Ready Iowa Regional Summits, with more to be announced next week. The summits will be held around Iowa and bring together business, community, economic development and education organizations to create local strategies to solve local challenges and needs.

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