Iowa Jobs and Labor Force Update – September 2024 Update

October 22, 2024

Introduction

The September Bureau of Labor Statistics employment and unemployment release shows that Iowa’s job market continues to tighten. In September 2024, Iowa employment declined by 4,800 jobs to 1.603 million—the state’s second lowest employment level this year. Alongside this decline, the BLS revised total employment in the state downward by 1,000 jobs. Over half of this month’s job losses occurred in education and health services with a decrease of 2,600 jobs, one of Iowa’s largest employment gainers since January 2020.  

Despite this decline in employment, Iowa’s unemployment rate remains unchanged at 2.9%, the eighth lowest in the United States. Its labor force participation rate also remained unchanged in September at 66.3%, halting its nine-month consecutive decline. Data in the coming months, in addition to interest rate cuts by the Federal Reserve, will better determine where Iowa’s labor market stands and if there is any need for concern.

Key Findings—Iowa September 2024 Employment Data

• According to both the employment figures from the BLS survey of establishments (CES) and the number of people employed from the BLS survey of households (LAUS), Iowa has yet to recover to a pre-pandemic employment-to-population ratio. 
• Based on the establishment survey and revised August numbers, employment has significantly fallen in September, declining by 4,800 or 0.3%.
• Based on the household survey, employment continues to decline, falling in September by 0.06% or 962 jobs.

Revisions 

• In October, the BLS revised August 2024 seasonally-adjusted total nonfarm employment upward by 35,200 jobs nationally—a 0.02% increase.
• In October, the BLS revised August 2024 seasonally-adjusted total nonfarm employment in Iowa downward by 1,000 jobs—a 0.06% decline.
• In October, the BLS revised August 2024 seasonally adjusted total nonfarm employment for education and health services downward by 1,400 jobs. The agency also revised leisure and hospitality upward by 1,300 jobs.

A Deeper Dive into Iowa Industries (BLS CES Survey) 

Iowa Labor Force Update 

Data Sources

The data in this report are compiled from monthly and annual data released by the U.S. Bureau of Labor Statistics (BLS), including data from the Current Employment Statistics (CES) survey and the Local Area Unemployment Statistics (LAUS) Survey. Some data are sourced directly from BLS and others are retrieved from FRED.