Iowa?s unemployment rate drops to 4.7 percent in April

DES MOINES ? Iowa?s seasonally adjusted unemployment rate dropped to 4.7 percent in April from 4.9 percent in March, and was well below the year ago rate of 5.2 percent.

The U.S. unemployment rate for April eased down to 7.5 percent from 7.6 percent in March.

?The state?s unemployment rate continued to show improvement in April, falling to its lowest level since December 2008,? said Teresa Wahlert, director of Iowa Workforce Development. ?The statewide labor force also grew for the fourth consecutive month, a sign that individuals are feeling more confident about the job market.?

The estimate of unemployed persons dropped to 77,800 in April from 80,500 in March. The number of unemployed stood at 86,200 one year ago. The total number of working Iowans increased for the seventh consecutive month in April, climbing to 1,570,900 from 1,562,100 in March. The level stood at 1,557,900 one year ago.

The seasonally adjusted total nonfarm employment held steady at 1,518,000 in April. Monthly gains in manufacturing and several of the service industries were offset by losses in construction and government.

Education and health services gained 1,700 jobs in April, the most of any sector. Health services contributed most of the gain (+1,400). Financial services added 1,600 jobs, bringing the sector?s employment to an all-time high of 104,300.

Trade and transportation increased by 1,400, reversing a two-month slide.

Retail trade was responsible for the majority of the gains (+800), although both wholesale trade and transportation were also positive. Leisure and hospitality advanced by 1,100 following a large loss last month.

On the other hand, construction lost the most jobs for the second straight month (-2,500). Government pared a total of 1,700 jobs; however, many of the losses stemmed from an early shedding of seasonal workers as opposed to budget issues. Professional and business services also experienced its second consecutive monthly loss (-1,300), following a strong start to the new year.

Compared to last year, manufacturing has added the most jobs (+7,100). Education and health services placed second in annual growth (+3,400), followed by financial activities (+3,100).

Other large over-the-year gains were noted in leisure and hospitality (+1,900) and trade and transportation (+1,700).

The largest annual losses occurred in construction (-3,600) and information (-1,100).