Master Proposed Book FY2023

Economic Overview

The Iowa City economy experienced consistent annual growth from 2010 through 2018; real GDP grew in thirty-six consecutive quarters up until that time. A decline in GDP occurred in 2019 due to the international trade wars which broadly impacted the Midwest region. The resumption of growth in 2020 is uncertain,

due to the onset of the COVID-19 pandemic. (Source: Bureau of Economic Analysis)

Iowa City’s employment picture has fared better than the state as a whole over the past ten years, and its unemployment rate continues to remain below state and national levels. As of February 2021 (preliminary), the Iowa City Metropolitan Statistical Area (MSA) was the thirty-third lowest unemployment rate of all MSAs nationally. (Source: Bureau of Labor Statistics)

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