Statewide Iowa — The prolonged pandemic is dragging down vital sectors of the economies in Iowa and the Midwest, according to the latest survey from Creighton University.
Creighton economist Ernie Goss says business leaders in Iowa and eight other states were questioned about supply chain bottlenecks and other difficulties they’re experiencing as we approach the two-year mark of COVID-19’s influence.
The survey found only 12-percent of respondents anticipate improvements ahead. The January survey showed the overall numbers tumbling from December for Iowa and the eight other states. For the first time since the spring of 2020, the Midwest region lost manufacturing jobs in January.
Since the start of the pandemic, the survey shows Iowa has gained only 500 manufacturing jobs, for an increase of a meager zero-point-two percent. Compared to pre-pandemic levels, the region has lost 16-thousand manufacturing jobs, Goss says, or a little over one-percent. With inflation rates continuing to rise, Goss predicts interest rates will soon follow.
What’s known as the Business Confidence Index also spiraled downward during January to its lowest reading since the beginning of the pandemic.
