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Indiana’s unemployment rate stands at 3.5 percent for August and remains lower than the national rate of 4.4 percent. With the exception of one month when it was equal (October 2015), Indiana’s unemployment rate now has been below the U.S. rate for four full years. The unemployment rate is a U.S. Bureau of Labor Statistics (BLS) indicator that reflects the number of unemployed people as a percentage of the labor force. Indiana’s labor force increased by 4,615 over the previous month due to an 8,007 decrease in employment and a 12,622 increase in unemployment. Indiana’s total labor force stands at nearly 3.34 million, and the state’s 64.4 percent labor force participation rate remains above the national rate of 62.9 percent.
In addition, Indiana’s initial and ongoing unemployment insurance claims are at historical lows.
Employment by Sector
Private sector employment has grown by more than 25,400 over the year, and has decreased by 4,900 over the previous month, primarily due to losses in the Leisure and Hospitality (-4,800) and the Private, Educational and Health Services (-2,100) sectors. Losses were partially offset by gains in the Trade, Transportation and Utilities (2,600) and the Financial Activities (700) sectors. Total private employment stands at 2,683,600 and is 6,700 above the November 2016 peak.
Editor’s Notes:
Data are sourced from August Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics.
August employment data for Indiana Counties, Cities and MSAs will be available at noon Monday, Sept. 18, pending U.S. Bureau of Labor Statistics validation.