Overall unemployment rate moved up to 2.5% with the biggest shift in Government, which gained 1,200 roles, based on the most recently available information published in December 2022.
Total employment in the Des Moines-West Des Moines, IA market rose by 1,604 jobs in October and the unemployment rate increased compared to the prior month by 20 bps to 2.5%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Des Moines-West Des Moines, IA unemployment rate is 90 bps below the national rate which is a positive sign.
- Unemployment in the market is 80 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 4.2% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.1% . Key sectors include:
- Transportation & Utilities: 71,900; +700
- Financial Services: 56,400; +100
- Education & Healthcare: 54,000; +1,000
- Business Services: 53,000; +900
- Government: 47,900; +1,200
- Restaurants & Hotels: 35,000; -600
- Construction, Mining: 23,500; +500
- Manufacturing: 21,800; no change
- Other Jobs: 13,200; +200
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.