(Spencer)– There was a significant increase in the area’s unemployment rate from December to January.
Latest figures from Iowa Workforce Development show the January unemployment rate in the Corridor of Opporunity (Clay and Dickinson counties) stood at four-point-nine percent…up considerably from three-point-four percent in December. It was also higher than the statewide rate of three-point-eight percent.
The big increase is taking local officials by surprise. Chad Shryock, Executive Director of the Corridor of Opportunity, says it isn’t uncommon to see increases during the winter months due to the seasonal nature of the area, but he says noone expected this kind of increase.
Shryock says it’s too early to tell if it’s just a short-term bump or if it signals a longer-term trend.
