Iowa’s economy sheds more than 21,000 jobs in past year

CEDAR RAPIDS, Iowa (KCRG) – Iowa’s unemployment rate held steady in July despite the state’s employers cutting more than 21,000 jobs from a year ago.

Iowa Workforce Development released the monthly unemployment data for July on Thursday by highlighting a steady 2.8% unemployment rate, the same as the previous month.

However, the report also notes the state lost 3,600 jobs in July alone. Compared to July of 2023, Iowa has lost 21,200 jobs across the state. Iowa’s unemployment rate was able to hold steady because more than 25,000 Iowans have left the job market, mostly due to retirement.

The report follows a string of layoffs from John Deere in Iowa, totaling more than 1,000 workers with some of those workers now considering an age-discrimination lawsuit. Many of the job losses over the past year, 1,500, came from Manufacturing while trade, transportation and utilities industries have cut 1,800 jobs.

“July’s report provides evidence of a tightening national economy, consistent with what we are seeing across the country,” said Beth Townsend, Executive Director of Iowa Workforce Development. “Some industries, such as advanced manufacturing, have been under pressure for some time, and the impacts of that are beginning to appear in July’s data. However, Iowa’s employers continue to hire, and there are more than 56,000 open jobs available at IowaWORKS.gov. Additionally, our Reemployment Case Management program continues to help Iowans displaced by layoffs and closures find new opportunities and careers.”

Education and Heath Services saw the biggest job increase, adding 10,000 jobs over the past year.

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