This chart from the U.S. Bureau of Labor Statistics shows that Indiana unemployment rate has been and remains consistently better than each surrounding state. (Graphic provided)
Indiana’s unemployment rate stands at 3.0 percent for June and remains lower than the national rate of 4.4 percent. 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 decreased by 2,427 over the previous month with a 4,088 increase in employment and a 6,515 decrease in unemployment. Indiana’s total labor force continues to stand at more than 3.33 million, and the state’s 64.4 percent labor force participation rate remains above the national rate of 62.8 percent.
“We are pleased to see Indiana’s unemployment rate go lower this past month and stay at its lowest levels since the mid-1990s. We believe this is an indication of the state’s ongoing strong economy,” said Steven J. Braun, Commissioner of the Indiana Department of Workforce Development (DWD). “We at the Department of Workforce Development remain focused on assisting Hoosiers who are unemployed or underemployed. I encourage them to visit their local WorkOne Career Centers and utilize the free resources and job assistance programs available to them.”
The decreasing unemployment rate is a direct correlation to the state’s constricting labor market, according to Braun. DWD’s long-term challenge is developing the workforce to meet the projected employer demand of filling more than one million jobs over the next 10 years, and Braun believes the agency is well-positioned to do so.
Employment by Sector
Private sector employment has grown by more than 45,700 over the year, and has increased by 10,100 over the previous month, primarily due to gains in the Professional and Business Services (3,500) and the Private Educational and Health Services (3,000) sectors. Gains were partially offset by losses in the Transportation, Trade and Utilities (-1,700) and the Construction (-900) sectors. Total private employment stands at 2,692,600 and is 15,700 above the November 2016 peak.
Data are sourced from June Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics.
June employment data for Indiana Counties, Cities and MSAs will be available Monday, July 24, 2017, at noon (EDT) pending U.S. Bureau of Labor Statistics validation.