DES MOINES, IOWA - Iowa has had among the lowest unemployment rates in the nation over the past year.... and that will mean some good news for Iowa workers in the new year ahead.
"We've seen wage growth between 2 and 2.5 percent (in 2017). That's not good, only slightly above inflation." Creighton University Economist Ernie Goss tells WHO Radio News.
"With the shortage of workers and the expanding economy, we're going to see that spill over into wage growth." Goss said. "I expect wage growth between 3 to 4 percent for 2018."
Goss says some workers will be in higher demand, and will see higher wages.
"One thing that's been consistent for businesses in this part of the country, in Iowa, is a shortage of workers. As those shortages get greater, we're going to see businesses and manufacturing raising wages. That's going to be particularly true for those well-educated and well-trained workers."
Iowa's unemployment rate was 2.9 percent in November, significantly below the national average of 4.1 percent, and the lowest in 17 years.
Goss is the author of the Mid American Economy Report, tracking conditions in eight Midwest states, including Iowa. See the December Report HERE.