State Treasurer of Iowa

Economic Update

Iowa’s economy continued to experience improvement throughout early 2014. The state’s unemployment rate remained low in May at 4.4%, national rate was 6.3%, ranking Iowa as the seventh lowest in the nation. Boosting Iowa’s total employment level to an all-time high was the increased hiring in the sectors of financial services, professional and business services, health care, and leisure and hospitality. The manufacturing sector experienced gains in employment for the first time since December 2013, ending its longest period of consecutive monthly job losses since the recession ended. With the effects of the drought mostly diminished in Iowa, current prices for some agricultural commodities are trending downward. Despite Iowa’s diversified economy, these lower prices could possibly decrease the future growth of the agriculture sector and Iowa’s economy.

 

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