Ind. Unemployment Rate Drops To 3.4 Percent
By Travis Thayer
(Indianapolis, Ind.) – Indiana’s unemployment rate dipped to 3.4 percent last month.
According to the Indiana Department of Workforce Development, the state’s jobless rate remains lower than the national rate of 4.1 percent.
With the exception of one month, Indiana’s unemployment rate has been at or under the national rate for the last four years.
Indiana’s labor force had a net decrease of 14,195 over the previous month. This was a result of 10,696 unemployed residents no longer seeking employment within the past four weeks, and a 3,499 decrease in residents employed.
The Hoosier state’s total labor force stands at 3.3 million, and the state’s 63.6 percent labor force participation rate remains above the national rate of 62.7 percent.
Private sector employment has grown by more than 24,400 over the year, and has increased by 6,000 over the previous month, primarily due to gains in the Manufacturing (4,700) and the Private Educational & Health Services (3,500) sectors.
December employment data for area counties will be available Wednesday at noon.