Economic Data for Iowa

Gross Domestic Product

Real GDP (a measure of economic growth) increased from 2009-2017, going from $137 billion to $165 billion.

 

Jobs                                      

Private-sector employers have added 100,000 jobs since 2010, the national low point for private-sector employment. From 2017 to 2018 the private sector has added approximately 50,000 net new jobs for a total of 2,700,000 putting it above the 2008 pre-recession high of 2,500,000 total jobs. Average hourly wages in the private sector have grown since 2009, going from $20/hr to $23/hr in 2018.

Manufacturing employment has decreased since 2000, especially during the recession. There were 225,000 jobs in this sector in 2018, down from 250,000 in 2000 but only slightly below pre-recession levels. Average hourly wages of manufacturing employees have grown since 2012, going from $17/hr to $19.50/hr by 2018.

There were 69,000 jobs in the Transportation, Warehousing and Utilities sector in 2018, above pre-recession levels by 2,500 jobs, showing mild growth in this sector. The average wage in the Trade, Transportation and Utilities sector has been growing since 2009, going from $16.50 to $21.25/hr by 2018.

Unemployment

The unemployment rate in 2018 is 2.9%, down from the prior year’s 3.25% rate. This is below the national average of 3.9% unemployment.

 

Housing

The House Price Index, a measure of the cost of housing, stagnated from 2008 to 2012, until it began to grow till 2018, going from 245 to 290, showing increasing housing costs.