(Des Moines) Iowa’s seasonally adjusted unemployment rate increased to 5.5 percent in August from 5.3 percent in July, but was substantially lower than the year ago rate of 6.0 percent. The U.S. unemployment rate for August fell to 8.1 percent from 8.3 percent in July largely due to the number of people that dropped out of the labor force.
“Seasonal job losses and an uncertain economic outlook are currently restraining job growth,” said Teresa Wahlert, director of Iowa Workforce Development. “The statewide economy is reacting to the effects of drought conditions, a global economic slowdown and the national uncertainty surrounding taxes and expenditure cuts.”
The number of unemployed Iowans edged up to 90,000 in August from 87,900 in July, but was down substantially from the August 2011 level of 99,900.
The total number of working Iowans fell to 1,552,500 in August from 1,563,400 in July. Total employment was reported at 1,560,500 one year ago.
September 21, 2012
10:15 am news