Unemployment rates fall in February

Unemployment rates fell last month in Iowa and the Corridor, where nonfarm employment increased from January.

The Cedar Rapids jobless rate fell to 4.9 percent in February from 5.1 percent in January. The labor force grew to 144,100 from 143,200 in January and more people were working - 137,100 in February compared with 136,000 in January.

Total nonfarm employment in the Cedar Rapids metropolitan statistical area added 700 jobs from January and stands at 138,600. Employment is 400 below a year ago and 100 below February 2013.

Trade, transportation, and warehousing shed 400 jobs. Manufacturing was unchanged over the month and up 100 jobs from February 2014.

Government added 700 jobs by way of a seasonal gain in local government and is unchanged from February 2014.

Iowa City's jobless rate dipped to 3.1 percent in February from 3.3 percent the previous month. The labor force expanded to 97,800 from 97,200 in January and more people were employed - 94,800 in February compared with 94,000 in January.

Nonfarm employment in the Iowa City metropolitan statistical area added 800 jobs from January and 1,800 from February 2014. Over-the-month gains were entirely in services as goods producing industries held steady. Leisure and hospitality realized the single largest gain, adding 200 jobs.

Iowa's seasonally adjusted unemployment rate dipped to 4.1 percent in February from 4.2 percent in January. The state's jobless rate was 4.4 percent a year ago.

The number of unemployed Iowans decreased to 70,100 in February from 71,800 in January. The current estimate is 4,000 lower than the year-ago level of 74,100.

Iowa's nonfarm employment shed 400 jobs in February, lowering nonfarm employment to 1,561,700 jobs.

Manufacturing added 1,200 jobs in February due primarily to hiring in nondurable goods factories.

Mike Owen, executive director of the Iowa Policy Project in Iowa City, said February ended Iowa's string of four positive months of job growth.

'The slight dip of 400 jobs is less concerning than the overall continued slow long-term growth in Iowa jobs,” Owen said. 'Iowa's pace of 1,800 net new jobs each month over the past year is about the same as it has been over the last four years.”