January 25, 2022
Summary
Iowa added 11,700 net payroll jobs and the unemployment rate fell by 0.2 percentage point to 3.5 percent in December, according to Bureau of Labor Statistics (BLS) data released at 10:00am on January 25, 2022.
Over the past twelve months, Iowa added 41,200 payroll jobs and the unemployment rate fell by 0.2 percentage point from 3.7 percent.
In December, Iowa’s private sector added 11,700 net private payroll jobs and over the past twelve months it added 34,100 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed fell by 3,786 on net in December, and over the past year employment rose by 45,203.
Iowa’s labor force participation rate rose to 66.9 percent in December from 66.8 percent. Since last year, the labor force participation rate rose by 1.6 percentage points.
The national unemployment rate fell by 0.3 percentage point in December to 3.9 percent. State employment and unemployment data for January is scheduled for release March 14, 2022. The national employment situation report for January will be released February 04, 2022.
Iowa Payroll Employment
Iowa added 11,700 net payroll jobs, or 0.8 percent, on a seasonally adjusted basis during December. In the prior month, Iowa added 2,000 jobs. Over the past twelve months, Iowa added 41,200 payroll jobs, or 2.7 percent. Iowa nonfarm payroll employment had increased in 9 of the past 12 months.
Nationally, nonfarm payrolls rose by 199,000 in December, or rose by 0.1 percent. Over the 12-month period ending with December, nonfarm payrolls rose by 6,448,000 jobs, or 4.5 percent. Iowa ranks 35th among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During December, Iowa’s private-sector added 11,700 jobs, or approximately 0.9 percent. The private-sector in Iowa added 1,300 jobs in the prior month. Over the past twelve months, private-sector payrolls in Iowa added 34,100, or 2.7 percent. Iowa private-sector payroll employment has increased in 8 of the past 12 months.
Nationally, private-sector payroll jobs rose by 211,000 jobs in December, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,996,000 jobs in the private sector, or 5 percent. Iowa is tied for 40th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during December were Manufacturing (6,100) and Trade, Transportation, and Utilities (3,000). The poorest performing sectors during the month were Mining and Logging tied with Professional and Business Services; and Government (0) and Financial Activities (-400).
The best performing sectors during the last twelve months were Leisure and Hospitality (19,600) and Government (7,100). The poorest performing sectors during the last twelve months were Professional and Business Services (-1,300) and Construction (-1,600).
Iowa Labor Force Statistics
Labor Force Participation
The labor force participation rate in Iowa rose to 66.9 percent in December from 66.8 percent in the prior month. At a labor force participation rate of 66.9 percent, Iowa is tied for 8th in the nation. The labor force participation rate in Iowa rose by 1.6 percentage points from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in Iowa was 70.4 percent last occurring in November 2019. The series high for the labor force participation rate in Iowa last occurred in September 1996 when the labor force participation rate hit 73.5 percent. The 10-year low for the labor force participation rate was 65.3 percent in December 2020. The series low for the labor force participation rate in Iowa last occurred in May 1976 when the labor force participation rate hit 64.1 percent.
The national labor force participation rate remained steady at 61.9 percent in December. That rate rose by 0.4 percentage point from a year earlier. The all-time high for the national labor force participation rate was 67.3 percent in April 2000. The 10-year high for the national labor force participation rate was 63.8 percent in October 2012. The recent 10-year low occurred in April 2020 at a level of 60.2 percent. The series low for the national labor force participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the Iowa civilian noninstitutionalized population 16 years and older counted as employed, in December rose to 64.5 from 64.3 percent in the prior month. At 64.5 percent, Iowa ranks 10th among state employment-to-population ratios in the nation. The employment-to-population ratio in Iowa rose by 1.7 percentage points from a year earlier.
The 10-year high for the employment-to-population ratio in Iowa was 68.4 percent last occurring in November 2019. The series high for the employment-to-population ratio in Iowa last occurred in September 1996 when the employment-to-population ratio hit 70.9 percent. The 10-year low for the employment-to-population ratio was 61.4 percent in April 2020. The series low for the employment-to-population ratio in Iowa last occurred in March 1983 when the employment-to-population ratio hit 59.3 percent.
The national employment-to-population ratio rose by 0.2 percentage point over the month to 59.5 percent in December. That rate rose by 2.1 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.