Iowa job growth continues but unemployment rate rises in October – Des Moines Register

by | Nov 17, 2022 | Jobs

Iowa’s economic momentum continued in October, with Iowa payrolls increasing by 4,500 for the month, the latest state employment report shows.Led by increased hiring in the accommodation and food services sector, Iowa employers added workers for the eighth consecutive month, according to the U.S. Bureau of Labor Statistics data released Thursday. The continued hiring came in the lead-up to the holiday season, when restaurants, shops and online retailers see increased business.At the same time, the momentum comes amid growing fears that the Federal Reserve will induce a recession as it continues to raise borrowing rates to slow the pace of inflation.In a statement Thursday, Iowa Workforce Development Director Beth Townsend said the agency hopes more Iowans return to work. The state is still about 5,900 jobs shy of where it stood in early 2020, just before the COVID-19 pandemic forced mass shutdowns and layoffs.Employers reported about 112,000 job openings in Iowa in September, according to a federal government survey. That’s up from 74,000 before the pandemic.”(Iowa Workforce Development) remains committed to pairing job seekers with a successful career and with employers eager to build their workforce,” Townsend said in a statement.Iowa’s unemployment rate rose to 2.9% from 2.7% last month, the third straight monthly increase. In July, the rate stood 2.5%.The number of workers telling federal government surveyors that they are unemployed increase to 49,700 in October from 43,300 in July. The state has seen a mass layoff at a Nordstrom warehouse in Cedar Rapids and the closing of Larson Manufacturing in Lake Mills …

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