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IA/MN unemployment hits 18-year low

'Thanks to the strong economy, businesses throughout the state continue to grow.'

Posted: Aug. 17, 2018 9:41 AM
Updated: Aug. 17, 2018 10:13 AM

KIMT News 3 – The unemployment rate in Iowa and Minnesota is the lowest it’s been in 18 years.

The Minnesota Department of Employment and Economic Development (DEED) says the state’s jobless rate dropped to three percent in July, the lowest since 2000. Iowa Workforce Development says its unemployment figure fell to 2.6 percent in July.

“Thanks to the strong economy, businesses throughout the state continue to grow,” said DEED Commissioner Shawntera Hardy. “The state’s robust labor market is providing access to job opportunities for an increasing number of Minnesotans, including those who have been on the economic sidelines for far too long.”

DEED says Minnesota added 31,800 jobs in the most recent three month period, the third-highest number of news jobs over a three-month span since 1990.

"Iowa hasn't seen an unemployment rate this low in 18 years and the amount of help available to employers to find workforce is substantial as evidenced by the more than 13,000 additional Iowans employed now compared to the same time last year” said Beth Townsend, director of Iowa Workforce Development. “As usual, Iowans are working collaboratively to build the workforce we need now and in the future."

The total number of working Iowans increased to 1,640,300 in July. That’s 5,200 higher than June and 13,200 higher than one year ago.

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