News Iowa Unemployment Rate Climbs to 5.8 Percent Posted 22 June 2009 Iowa’s seasonally adjusted unemployment rate jumped to 5.8 percent in May from 5.1 percent in April, confirming the labor market’s current weakness. The state’s jobless rate stood at 4.0 percent for the same month one year ago. The U.S. unemployment rate reached 9.4 percent in May, up from 8.9 percent in April, and 5.5 percent in May 2008. “A surge in new labor force entrants combined with a drop in employment pushed the state’s unemployment rate to a 22-year high in May,” said Elisabeth Buck, director of Iowa Workforce Development. “While unemployment may continue to rise for some time, job losses are expected to progressively lessen in the months ahead.” The total number of working Iowans dropped to 1,583,100 in May from 1,589,900 in April. Total employment was 25,400 higher in May 2008 at 1,608,500. The estimate of unemployed persons increased to 96,900 in May from 84,900 in April. This is the highest level of unemployment experienced in the state since July 1986, when the number was reported at 97,700. Unemployment is currently 29,300 higher than the year ago figure of 67,600.

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