Iowa Unemployment Up Again

Iowa' unemployment has gone up again. A release just out from the Iowa Workforce Development showed the rate rose another 1/10 of a percent. Here's the release:

Iowa Unemployment Rate at 4.9 Percent

DES MOINES, IOWA – Iowa’s seasonally adjusted unemployment rate edged up to 4.9 percent in February from 4.8 in January. The statewide jobless rate was reported at 3.9 percent one year ago. In stark contrast, the U.S. unemployment rate for February increased by one-half of a percentage point to 8.1 percent, the highest level since 1983. The U.S. unemployment rate stood at 4.8 percent one year ago.

“Although Iowa remains in a better position than most states to weather the current recession, job losses have deepened over the past six months,” said Elisabeth Buck, director of Iowa Workforce Development. “Iowa employers continue to trim their payrolls in response to declining sales and profits.”

The total number of working Iowans trended downward to 1,587,100 in February from 1,592,100 in January. Total employment in the state was reported at 1,609,100 one year ago, which was 22,000 higher than the current figure.

The statewide estimate of unemployed persons increased to 82,500 in February from 80,000 in January. One year ago, the number of unemployed state residents was reported at 65,500.