IOWA UNEMPLOYMENT RATE DROPS
(Des Moines) Iowa’s seasonally adjusted unemployment rate dropped to 6.3 percent in December from 6.6 percent in November, reflecting the largest monthly decrease in the rate for the year. The state’s jobless rate stood at 6.5 percent one year ago. The U.S. unemployment rate also took a sharp drop in December, falling to 9.4 percent from a November rate of 9.8 percent.
Iowa’s monthly “household survey,” which is used to derive the state’s unemployment rate, depicted a much stronger employment picture in December than the payroll survey. While monthly nonfarm employment dropped by 6,500, total employment increased by 5,800. Officials say an important feature of the household survey is that it captures all forms of employment; including agriculture, small businesses and the self-employed.
The monthly estimate of unemployed persons dropped to 106,300 in December, the lowest level for the year. The December figure compared with 110,500 for November, and 109,800 for December 2009.