Iowas Workforce and the Economy Iowa Workforce Development

Iowa's Workforce and the Economy Iowa Workforce Development

Iowa and U. S. Unemployment Rates January 2011 Source: Labor Market and Workforce Information Division, Iowa Workforce Development.

Region 12 Unemployment Rates January 2011 Source: Labor Market and Workforce Information Division, Iowa Workforce Development.

Region 12 Unemployment Rates - 2010 Source: Labor Market and Workforce Information Division, Iowa Workforce Development.

Unemployment Benefits - 2010 Region 12 Source: Labor Market and Workforce Information Division, Iowa Workforce Development.

2010 Population Region 12 Source: U. S. Bureau of the Census, Decennial Census.

Population 1950 -2010 Region 12 Source: U. S. Bureau of the Census, Decennial Census Counts.

Average Weekly Wage – Region 12 (Fourth Qtr 2009 -Third Qtr 2010 Source: Quarterly Census of Employment and Wages, Iowa Workforce Development. 2010 refers to year ending September 30, 2010.

Highest-Paying Industries in Region 12 2010 Average Annual Wage Source: Quarterly Census of Employment and Wages, Iowa Workforce Development. 2010 refers to year ending September 30, 2010.

Lowest-Paying Industries in Region 12 2010 Average Annual Wage Source: Quarterly Census of Employment and Wages, Iowa Workforce Development. 2010 refers to year ending September 30, 2010.

Status of the Iowa Economy in 2010 Consumer spending strengthened in fourth quarter. Housing remained weak; home sales in Iowa dropped slightly to 30, 389 in 2010 from 31, 795 in 2009. The recovery is dependent on hiring in the private sector due to cutbacks in state and local government.

Effects of the Recession Long-term unemployment Bankruptcies Foreclosures Budget shortfalls in state and local governments Slow hiring due to uncertainty

Reasons for Long-Term Unemployed Hiring in Iowa has been suppressed for over two years. Layoffs have hit workers in middleskilled jobs the hardest; many will need to retrain for new jobs. The housing crisis has limited mobility for unemployed persons.

Manufacturing Began Rebuilding in 2010 Hiring has occurred in Iowa’s major durable goods plants (Alcoa, Deere, Rockwell Collins, Winnebago). Manufacturing grew at a faster pace in the Midwest in 2010 than in the U. S. Iowa’s strong agricultural economy is also fueling some of the demand.

Manufacturing Employment by MSA Third Qtr 2009 – Third Qtr 2010 Note: The Sioux City MSA is defined as Woodbury County, IA; Dakota County, NE; Dixon County, NE; and Union County, SD.

Signs of a Recovery Housing has begun to stabilize. Business investment is strong. Consumer spending has strengthened. Household wealth has improved due to the rally in the stock market. Initial claims for Unemployment Insurance (UI) dropped in 2010. Average weekly hours worked increased in 2010, particularly in manufacturing.

Top Growth Industries 2008 -2018 Region 12 Source: Labor Market and Workforce Information Division, Iowa Workforce Development.

Hot Jobs 2008 -2018 Region 12 Source: Labor Market and Workforce Information Division, Iowa Workforce Development.

Hot Jobs 2008 -2018 Region 12 (continued) Source: Labor Market and Workforce Information Division, Iowa Workforce Development.

For further information contact: Ann Wagner, Research Analyst Ann. Wagner@iwd. iowa. gov Iowa Workforce Development