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Thursday PM Daily | November 17, 2022
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Report: Iowa adds 4,500 jobs in October
By Business Record Staff
Iowa businesses added 4,500 jobs in October, more than half of which were in the leisure and hospitality sector, Iowa Workforce Development reported today.
In October, Iowa’s total nonfarm employment was 1,584,600, according to the department. The total number of jobs in the state is 900 more than in March 2020 when the pandemic began and thousands of Iowans became unemployed because of the economic shutdown.
"Strong hiring across the state, including in October, has helped Iowa regain a total of 170,700 jobs — overcoming the 169,800 jobs lost since the beginning of the pandemic," Beth Townsend, Iowa Workforce Development director, said in a prepared statement.
In October, the leisure and hospitality sector had 147,200 jobs, up from the 144,900 reported in September, according to the state agency. In addition, the education and health services sector had 228,300 jobs, 1,000 more than in September; and manufacturing, financial activities and trade, transportation and utilities sectors added 500 jobs each.
Numerous companies continue to seek workers. The state’s website, IowaWorks, currently lists over 83,000 job openings, up from September when 82,000 jobs were listed.
The total number of unemployed Iowans increased to 49,700 in October but remains 16,600 lower than a year ago.
Iowa’s unemployment rate was 2.9% in October, up slightly from September when it was 2.7%, the state agency reported. The state’s labor force participation rate remained at 67.7%.
The U.S. unemployment rate in October was 3.7%; the labor force participation rate was 62.2%.
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Survey measuring economic impact of arts and culture
By Business Record Staff
A survey is underway to measure the economic impact arts have in Iowa.
The survey, being conducted in partnership with the Iowa Arts Council and the Iowa Department of Cultural Affairs, is being organized by the nonprofit Americans for the Arts. Data is being collected in 10 communities: Ames, the Waterloo-Cedar Falls area, Council Bluffs, Des Moines, Davenport, Dubuque, Iowa City, Marion, Mason City and Sioux City.
The survey is Iowa’s contribution to the national Arts & Economic Prosperity Study, which is being described as the most in-depth arts research project of its kind in the country.
Chris Kramer, director of the state’s Iowa Department of Cultural Affairs, said Iowa’s creative sector contributes more than $4 billion to the state’s economy and employs more than 43,000 people.
"This study focuses on the arts’ impact at a local level and helps community leaders and residents understand how cultural anchor organizations generate tourism, support jobs and contribute to vibrant, prosperous communities," Kramer said.
The current study began in May. It will conclude in spring 2023, with results expected to be released in July 2023. A variety of nonprofit arts and cultural organizations are participating, including performing arts venues, museums, film and theater groups, festivals and historical sites.
Host sites are distributing surveys after events to better understand how arts and culture organizations contribute to the state’s economy. The study also captures organizations’ annual expenses and the number of full-time jobs and contribution to local government revenue.
This is the sixth time the Arts & Economic Prosperity Study has been conducted in individual cities, but this is the first time it’s been done statewide.
The most recentdata, published in 2015, shows that the arts and culture industry generated more than $166 billion across the U.S. In Iowa, the Des Moines area alone generated more than $185 million and accounted for more than 5,600 full-time jobs.
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MEMBERSHIP EXCLUSIVE CONTENT
Business Record honors the Dentons Davis Brown Human Resources Professional of the Year
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Monica Friedman knew that she wanted to major in business and specifically human resources when she first started attending the University of Iowa. From her first jobs as a teenager, largely in retail, she observed and took interest in the way teams worked together. In her first four years with Life Care Services Corp., which manages senior living communities in more than 30 states, Friedman helped lead and support the communities’ front-line employees through the pandemic.
Friedman is currently executive vice president and chief human resources officer for LCS and was recently named the 2022 Dentons Davis Brown Human Resources Professional of the Year by the Business Record. Read more
MORE INSIDER CONTENT: See all Business Record Insider content and become an Insider.
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NEWS BRIEFS
Nation's largest year-round snowsports hill to open in Des Moines
Axios Des Moines: Sleepy Hollow Sports Park's currently closed tubing hill will reopen in July as a year-around snowsports complex, Polk County Conservation officials said this week during a presentation before county supervisors. A synthetic snow-substitute known as Snowflex will allow tubing, snowboarding and skiing for at least 44 weeks a year. The project will boost the usability of the 76-acre park and make it a significant outdoor recreational attraction, county officials said. A roughly $1.7 million redevelopment will begin in coming months, focused primarily on resurfacing the tubing hill and building a new pedestrian lift, conservation director Rich Leopold said. The park will reopen as the largest all-year snowsports hill in the country, said Jeff Condon, the department's leisure services manager.
Companies increasing capital spending despite higher interest rates
Wall Street Journal: Big U.S. companies are stepping up their spending on capital projects, putting expenditures on pace to set a quarterly record even as worries about a potential recession loom. Capital spending among companies in the S&P 500 in the third quarter is set to top $200 billion, according to S&P Dow Jones Indices, which analyzed data through Monday from roughly 90% of index components. That’s on pace for a jump of about 20% from a year earlier, roughly in line with the first and second quarter’s growth rates.
University of Iowa seeks temporary help for state Hygienic Lab
Cedar Rapids Gazette: The University of Iowa is seeking help hiring temporary workers for the State Hygienic Lab that — like many other industries — is facing a labor shortage stretching its staff thin as it aims to process an average of 1,000 tests a day for things like COVID-19, newborn and maternal screenings and tuberculosis. The university earlier this month issued a call for proposals from temporary staffing agencies capable of finding workers to fill up to 10 positions "depending on the volume of testing needed."
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ONE GOOD READ
Adopting "vacation mindset" at work can lead to a happier, healthier life, expert says
BY MICHAEL CRUMB: Feeling burnt out? Not finding joy in what you do? Maybe you need to adopt a "vacation mindset" at work. What is a "vacation mindset?" This story from Business Insider takes a look at what we can do at work to reduce burnout and live happier, healthier lives. According to the story, more than half of us will end the year with unused time off, and that can result in higher levels of disengagement, turnover and more, including harmful health effects. So we all know the importance of taking time off, right? But what does a "vacation mindset" at work really mean? Leo Babuta, a mindfulness expert (yes, there is such a thing) describes the "vacation mindset" this way: "Vacation mind is just [being] present in the current moment. Time is less important. Enjoying yourself is the priority. So, what does it look like when you apply a vacation mind to work? You let go of the anxiety. You aren't worried about getting it all done, or doing the right thing right now, or all the things you have to do later. You are immersed in enjoying whatever you've chosen to do right now."
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KCCI TOP STORIES
New contract extends Cy-Hawk series through 2027
College football fans can expect to see more classic matchups on the gridiron between the Hawkeyes and Cyclones. The University of Iowa and Iowa State University have extended the contract that will ensure the Hawkeyes and Cyclones compete in the annual Iowa Corn Cy-Hawk Series football game through the 2027 season. Read more
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Tonight:
Partly cloudy. Low around 15. Winds WNW at 10 to 20 mph.
Friday:
Sunshine and clouds mixed. High 21. Winds WNW at 10 to 20 mph.
Get the latest KCCI weather.
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BUSINESS RECORD IOWA INDEX
The Iowa Index is an unweighted average of all Iowa-based public companies. Below is a live look at those Iowa companies, plus additional companies with large operations in Iowa.
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