Iowa jobless rate dips to historic low, second lowest in the U.S.

DES MOINES, Iowa-    The state's unemployment rate continues to be at an historic low, dropping to 2.4 percent last month, down from 2.5 percent in September.  A year ago Iowa's jobless rate was 2.9 percent.  

Iowa Workforce Development Director Beth Townsend says several sectors reported job gains, including two big sectors -construction and manufacturing.

The number of unemployed Iowans decreased to 41,200 in October from 41,800 in September. The current estimate is 8,000 lower than the year ago level of 49,200.

State employment officials say a lower rate typically puts upward pressure on wages, because employers have to work harder to attract and retain workers.

The state's jobless rate has only been this low once before, since they started keeping records in the 1970s.

Iowa has the second lowest unemployment rate in the nation, behind Hawaii.    The nation's jobless rate last month was 3.7 percent.

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