Iowa jobless rate ticks up in March

Weakness in manufacturing and other industry sectors led to an uptick in Iowa's seasonally adjusted unemployment rate in March.

Iowa Workforce Development on Friday reported the jobless rate was 3.8 percent last month, up from 3.7 percent in February. The state's jobless rate was 3.7 percent a year ago.

'Although a few sectors of Iowa's economy, such as construction, continue to expand, Iowa's unemployment rate ticked up in March confirming signs of weakness in other sectors, particularly manufacturing.” Iowa Workforce Development Director Beth Townsend said in a news release. 'The good news is, as evidenced by the 54,000 jobs listed on our iowajobs.org website, Iowa employers are still hiring.”

The number of unemployed Iowans increased to 65,300 in March from 63,200 in February. The estimate is 2,400 higher than the year ago level of 62,900.

A total of 1,649,400 Iowans were working in March, 1,600 fewer than in February and 12,100 higher than a year ago.

Construction posted the largest single gain in March with an additional 3,600 jobs. The gain may partially be the result of firms starting work early this year coupled with the start of new commercial and infrastructure projects.

Other sectors that added employment last month included trade and transportation, professional and business services, and leisure and hospitality.

Iowa's manufacturing sector felt the effects of waning demand in March with a loss of 3,000 positions. Employment loss was particularly heavy in durable goods factories with 2,400 fewer jobs.

Iowa's manufacturing sector has lost more than 6,000 jobs in the last 12 months. Many of the losses are tied to factories producing equipment used in agriculture or energy.

Education and health care shed 800 jobs last month, with the loss mostly centered within health care.

Iowa's finance sector lost jobs for the first time in several months in March. However, the loss wasn't severe and the sector remains markedly higher compared with a year ago.