Davenport unemployment figures updated

August 7, 2023 by No Comments

The latest updates on unemployment statistics for the Davenport-Moline-Rock Island economy have been released today. The figures for May have been officially confirmed, while initial data for June has been unveiled.

May: In May, the unemployment rate saw a rise to 3.9%. The workforce lost 227 positions, and an additional 460 individuals joined the labor force, contributing to the uptick in the unemployment rate. The nonfarm payrolls experienced a growth of 2,400 jobs. Notably, there were no substantial shifts in employment within any specific sector.

June (preliminary): For June, the unemployment rate climbed to 4.3%. Although 2,803 positions were added, the entry of 3,797 new workers into the labor force led to the overall increase in the unemployment rate. The nonfarm payrolls showed an increase of 1,800 jobs. Similar to the previous month, no significant changes in employment were observed across individual sectors.

So, what does this mean exactly? In short, this data has shown that the unemployment rate in Davenport (Iowa) hasn’t had many dramatic shifts over the past couple of months. This is fairly typical considering that the current economy isn’t undergoing a volatile shift which means these figures are relatively normal given the context. Based on this, you would expect similar numbers to be projected for the following two months (July and August) which are yet to be released due to the lag in the release of data.

Leave a Comment