Knoxville — Iowa’s seasonally adjusted unemployment rate dropped for the third consecutive month in May, falling to 4.6 percent. The current rate is down from 4.7 percent in April, and 5.3 percent in May 2012. Meanwhile, the U.S. unemployment rate rose to 7.6 percent in May from 7.5 percent in April.
Marion County's unemployment rate for April was 4.2, down significantly from 5.3 one year ago. County information for May is expected to be released later this month.
“The Iowa job market picked up momentum in May, as businesses added more jobs than anticipated,” said Teresa Wahlert, director of Iowa Workforce Development. “Iowa’s nonfarm jobs grew by 5,300 in May, the largest monthly total reported so far this year.”
The statewide estimate of unemployed persons fell to 76,800 in May from 77,600 in April. The year ago count of unemployed was 10,400 higher at 87,200.
Total employment also rose to its highest level for the year, increasing to 1,576,800 in May. This figure was up from 1,571,000 in April and 1,553,700 one year ago.