Thursday 14th November 2024

After a year filled with supply chain troubles and global health concerns, the economic outlook for 2022 in Iowa and for the Midwest isn’t rosy, according to Creighton University economist Ernie Goss. According to the U.S. Bureau of Labor Statistics, Iowa’s seasonally adjusted manufacturing employment rate was down by fewer than 500 jobs from October to November, or only about two-tenths of one-percent. On the national front, the Gross Domestic Product is booming.

The monthly Creighton survey of supply managers in Iowa and eight other states in the region is showing strong growth, but it’s bogged down by continued transportation troubles and labor shortages.

The survey’s overall Business Conditions Index for the Midwest, which also uses a zero-to-100 scale, dropped from 65.2 in October to 60.2 in November. The overall index for Iowa tumbled even further, from 67.8 in October to 59.4 in November.