Iowa jobless rate falls in November

Iowa's unemployment rate dipped in November to 3.4 percent from 3.5 percent in October, the lowest level since 2001.

Iowa Workforce Development on Friday said nonfarm employment increased by 8,400 jobs in November in contrast with October, which saw almost no change in the number of jobs.

Iowa's jobless rate was 4.3 percent in November 2014.

The number of unemployed Iowans fell to 58,700 in November from 60,400 in October. The current estimate is 15,000 lower than the year ago level of 73,700.

The total number of working Iowans increased to 1,647,500 in November. The figure was 3,100 higher than October and 6,500 higher than a year ago.

'Iowa's businesses showed unmistakable optimism in November,” Beth Townsend, director of Iowa Workforce Development, said in a news release. 'This month's increase is the highest in several years and includes job gains in virtually all industries.”

Private industries combined for all of the gains in November. Government pared 600 jobs with losses at the state and local level.

Iowa has added an average of 2,300 jobs per month totaling 27,300 jobs added over the past twelve months. Private industries have advanced by 28,200 jobs and government is down about 900 jobs.

The largest private sector gain was in construction with 3,700 jobs and follows consecutive months of declines totaling 1,500 jobs. Leisure and hospitality also increased last month by 3,300 positions, with most of the hiring in accommodations and food services.

Retail trade helped fuel a gain of 2,300 jobs in trade, transportation, and warehousing. Smaller gains were reported with 600 positions in financial activities and 400 jobs in education and health services.

The largest increase since last November occurred in construction with 7,200 jobs. The sector has also added the most jobs by percentage at 9.3 percent.

Manufacturing is down due to cutbacks with a loss of 500 jobs in durable goods factories.