Growth in Iowa’s rural economy slows in March

25 Mar 2022

rural, news

Iowa’s rural economy grew at a slightly slower pace in March behind a weaker performance in new job hiring, according to a survey of rural bankers.

According to Creighton University’s Rural Mainstreet Index, the index for Iowa fell to 52 in March, from 62 in February.

The survey is an early snapshot of the economy in 10 rural agriculturally and energy-dependent states, focusing on about 200 communities with an average population of 1,300. The index ranges from zero to 100, with a score of 50 representing neutral growth.

One component of Iowa's score, the new hiring index, declined to 59.6, from 62.7 in February. The report, released March 17, cited U.S. Labor Statistics data that shows Iowa’s rural communities experienced a 1.8% growth in nonfarm employment over the past 12 months, compared with 2.6% for urban areas of Iowa.

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