Indiana’s unemployment rate drops to 3.4 percent for July and remains lower than the national rate of 3.7 percent. The last time Indiana’s unemployment rate was at 3.4 percent was April 2018. The monthly unemployment rate is a U.S. Bureau of Labor Statistics (BLS) indicator that reflects the number of unemployed people seeking employment within the prior four weeks as a percentage of the labor force.
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Indiana’s labor force had a net decrease of 6,608 over the previous month. This was a result of a decrease of 1,274 unemployed residents and a decrease of 5,334 employed residents. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.38 million, and the state’s 64.6 percent labor force participation rate remains above the national rate of 63.0 percent.
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Employment by sector
Private sector employment has grown by 27,300 over the year and has decreased by 1,300 over the previous month. The monthly decrease is primarily due to losses in the Leisure and Hospitality (-1,500) and the Trade, Transportation and Utilities (-700) sectors. Losses were partially offset by gains in the Private Educational and Health Services (1,500) and the Financial Activities (300) sectors.
Data are sourced from March Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics. March employment data for Indiana counties, cities and MSAs will be available at noon on Monday, Aug. 19 pending U.S. Bureau of Labor Statistics validation.