DES MOINES, Iowa – The unemployment rate in Iowa dropped to a historic low in October.
Iowa Workforce Development released the new numbers Friday, saying Iowa saw an unemployment rate of 2.4-percent in October. That’s down a tenth of a percent from September’s 2.5-percent.
The department says October’s numbers mark only the fifth month since 1976, when the Local Area Unemployment Statistics program began, that the rate has been at the low of 2.4-percent. The last time it happened was in December of 1999 and the rate remained the same through March of 2000.
Beth Townsend, Director of IWD said in a news release, “This low unemployment rate makes it imperative for us to focus on building the skilled workforce necessary to power Iowa’s continued economic growth. We have recently held 18 regional Future Ready Iowa summits around the state that brought together more than 2,500 Iowans committed to closing the skills gap in their own communities. It is this type of effort and engagement that will ultimately solve this problem in Iowa and enable us to meet our Future Ready Iowa goal of 70 percent of our workforce having credentials or education by 2025.”
Iowa’s unemployment rate was 2.9-percent for October of 2017.
The national unemployment rate remains at 3.7-percent for October.