Iowa outperforms the nation in strongest job growth

MONTGOMERY COUNTY — Local unemployment figures dropped to its lowest rate in nearly two and a half years in May, according to figures released by the Iowa Workforce Development.

With a reported 320 people receiving benefits, Montgomery County recorded a 6.3 percent unemployment rate, slightly above the state average of 6.0 percent.

Not only is the rate lower than April’s mark of 6.5 percent, it also marks the seventh consecutive month the rate decreased since topping out at 9.1 percent in November, 2010. The high water mark for Montgomery County was set in July and August of 2010, immediately after the closing of CDS, at 9.2 percent.

The 6.3 percent figure also represents the lowest unemployment rate in the county in 29 months, dating back to November 2008, when it was 6.1 percent.

While Montgomery County’s unemployment rate decreased, and Iowa’s remained unchanged from April, the national jobless figured increased from 9 to 9.1 percent. U.S. employers hired only 54,000 workers in May, the lowest figure in eight months.

“Iowa outperformed the nation in May by posting its strongest job growth for the year,” said Teresa Wahlert, director of Iowa Workforce Development.  “The state marked its fifth consecutive month of job gains led by strong hiring in the manufacturing sector.”

The statewide estimate of unemployed persons edged down to 100,900 in May from 101,600 in April.  The level of unemployed was reported at 102,100 one year ago.   
 
The total number of working Iowans dipped slightly to 1,582,500 in May from 1,583,400 in April, but was 14,700 higher than the year ago total of 1,567,800.