Unemployment rate drops to 3.2 percent . . .
Indiana’s unemployment rate stands at 3.2 percent for February and remains lower than the national rate of 4.1 percent. With the exception of one month when it was equal (October 2014), Indiana’s unemployment rate now has been below the U.S. rate for more than four years. 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.
Graphic provided
Indiana’s labor force had a net increase of 2,495 over the previous month. This was a result of 2,243 unemployed residents no longer seeking employment within the past four weeks, and a 4,738 increase in residents employed. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.31 million, and the state’s 63.7 percent labor force participation rate remains above the national rate of 63.0 percent.
In addition, Indiana’s initial unemployment insurance claims continue to be at historical lows.
Learn more about how unemployment rates are calculated at hoosierdata.in.gov/infographics/employment-status.asp.
Employment by sector
Private sector employment has grown by more than 28,200 over the year, and has increased by 5,200 over the previous month, primarily due to gains in the Construction (2,800) and the Trade, Transportation and Utilities (1,900) sectors. Gains were partially offset by losses in the Leisure and Hospitality (-1,500) and the Private Educational and Health Services (-900) sectors. Total private employment stands at 2,698,700 and is 9,800 above the December 2017 peak.
Editor’s Notes
Data are sourced from February Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics.
February employment data for Indiana counties, cities and MSAs will be available at noon on Monday, March 26 pending U.S. Bureau of Labor Statistics validation.