In the second quarter of 2000, Iowa enjoyed the second fastest growth in personal income in the nation. For the year, Iowa s growth rate was the third highest among the states, trailing only Delaware and Mississippi. Both personal and household income are buoyed by Iowa s tight labor markets.
Farm income continues to be a drag on Iowa s personal income growth.
Excess world capacity of agricultural commodities and reduced demand has hampered Iowa farmers. The drop in farm income has been mitigated somewhat by federal assistance. While the soft farm economy has had an effect on land values, there are signs that conditions are improving. Iowa continues to have one of the lowest average unemployment rates in the nation. The September level of unemployment, with 36,200 unemployed, was 2,100 lower than a year previous.