Unemployment rates decline in March

Unemployment rates fell last month in the Corridor and the state as nonfarm employment continued to rise, according to Iowa Workforce Development.

Cedar Rapids' jobless rate fell to 4.4 percent in March from 4.8 percent in February.

Nonfarm employment in the Cedar Rapids metropolitan statistical area (MSA) added 500 jobs from January and stands at 139,300. Employment is 500 below a year ago and equal to the March 2013 level.

Trade, transportation and warehousing, leisure and hospitality, and government each gained 200 jobs from February. Leisure and hospitality remains 100 jobs below a year ago, government employment is unchanged and trade, transportation and warehousing has gained 300 jobs.

Professional and business services pared 400 jobs from February and remains down 1,000 jobs from a year ago, continuing a declining trend that began after an employment peak in June 2014.

In Iowa City, the unemployment rate dipped to 2.7 percent in March from 3.1 percent in February.

Nonfarm employment in the Iowa City MSA added 300 jobs from February and 1,600 from a year ago. Employment gains were shared by service providing (200) and goods producing industries (100). Trade and transportation was the only industry sector to post a loss, shedding 200 jobs.

Job gains from March 2014 were fueled by employment increases in goods producing (700) and service providing industries (900). Trade and transportation remains 300 jobs below a year ago.

Iowa's seasonally adjusted unemployment rate dropped to 4 percent in March from 4.1 percent in February, the lowest in about seven years. The state's jobless rate was 4.4 percent a year ago.

Nonfarm employment increased for the sixth-consecutive month in March, adding 3,300 jobs. The number of unemployed Iowans decreased to 67,800 in March from 70,300 in February.

l Comments: (319) 398-8366; george.ford@thegazette.com