Overall unemployment rate moved up to 2.6% with the biggest shift in Government, which lost 3,100 roles, based on the most recently available information published in August 2022.
Total employment in the Des Moines-West Des Moines, IA market declined by 572 jobs in July and the unemployment rate increased compared to the prior month by 10 bps to 2.6%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Des Moines-West Des Moines, IA unemployment rate is 118 bps below the national rate which is a positive sign.
- Unemployment in the market is 170 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 3.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.9%. Key sectors include:
- Transportation & Utilities: 72,500; -600
- Financial Services: 56,600; no change
- Education & Healthcare: 52,600; -300
- Business Services: 52,500; +900
- Government: 43,900; -3,100
- Restaurants & Hotels: 37,000; -300
- Construction, Mining: 23,000; -200
- Manufacturing: 22,300; +100
- Other Jobs: 13,100; -100
- IT & Development: 6,100; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.