But the statewide unemployment rate increased by a tenth of a point over June's revised number to 7.3%, nearly two points higher than the national figure of 5.4%.
Iowa unemployment rate rises slightly as slow recovery from COVID-19 pandemic continues msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
State unemployment rate slightly rises as economic recovery remains slow press-citizen.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from press-citizen.com Daily Mail and Mail on Sunday newspapers.
The concentration of price pressures in a handful of categories means markets shouldn’t yet be worrying about inflation after Wednesday’s U.S. surprise,.
The readings triggered significant sell-offs across global stock markets, as investors feared that the surge in inflation could prompt the Federal Reserve to alter its accommodative monetary policy stance.
Used car and truck prices, seen as a key inflation indicator, surged 21%, including a 10% increase in April alone. Airlines and shelter also featured heavily due to the sudden upswing in demand as travel restrictions were lifted.
The automotive industry has been hamstrung this year by a global shortage of semiconductors which has led major carmakers to cut production. Nissan on Thursday became the latest to announce that it would make half a million fewer cars in 2021 due to the shortage. The used car price spike has been attributed to the knock-on effect from this crisis.