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WRITER: STEPHEN J. PRADARELLI
CONTACT: GEORGE MCCRORY
100 Old Public Library
Iowa City IA 52242
(319) 384-0012; fax (319) 384-0024
e-mail: george-mccrory@uiowa.edu

Release: Nov. 15, 1999

Report finds Iowa employment strong, predicts income will grow

IOWA CITY, Iowa -- Employment growth in Iowa was strong this year despite a low unemployment rate, according to the Iowa Economic Forecast released today by the University of Iowa Institute for Economic Research.

The report was prepared for the Iowa Economic Forecasting Council, which received it today in Des Moines.

Institute Director Beth Ingram says the Institute's model predicts real personal income in Iowa will grow by 3.7 percent in 1999 (down from 3.8 percent in September) and by 3.7 percent in 2000 (up from a forecast of 3.4 percent in September).

"Real Personal Income in Iowa grew by 4.6 percent on an annualized basis in the second quarter of 1999, based on the most recent data available," Ingram said. "This put Iowa among the top three fastest growing states, along with Nebraska and Kansas."

Meanwhile, the employment growth forecast for 1999 is down slightly from September. Employment growth in Iowa has been strong, and the rate is expected to climb by 2.4 percent in 1999 and by 1.2 percent in 2000.

EDITORS NOTE: Beth Ingram, director of the University of Iowa Institute for Economic Research, will be in Des Moines today (Monday, Nov. 15) to present the Iowa Economic Forecast to the Iowa Economic Forecasting Council. If you'd like comments on the report, contact Charles H. Whiteman, chair of the UI department of economics and former director of the Institute, at (319) 335-0831; or (319) 335-0834.