Iowa’s seasonally adjusted unemployment rate rose to 4.8 percent in July from 4.6 percent in June, but remained substantially below the July 2012 rate of 5.5 percent. In contrast, the U.S. unemployment rate for July dropped to 7.4 percent from 7.6 percent in June.
“Despite this month’s increase in the unemployment rate, nonfarm employment continued to advance at a healthy pace,” said Teresa Wahlert, director of Iowa Workforce Development. “Nonfarm jobs have increased by 5,000 or more for the past three months.”
The statewide estimate of unemployed persons increased to 79,300 in July from 76,300 in June. The level of unemployed was reported at 89,300 one year ago.
Total employment dropped for the first time this year, falling to 1,573,200 in July from 1,577,200 in June. However, the current figure is 25,000 higher than one year ago.