Monday, March 12, 2018 10:41 am
Verbatim: January Indiana Employment Report
Unemployment rate drops to 3.3 percent
The following was released on Monday, March 12, 2018 by the Indiana Department of Workforce Development:
INDIANAPOLIS (March 12, 2018) – Indiana’s unemployment rate stands at 3.3 percent for December 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.
Indiana’s labor force had a net decrease of 7,294 over the previous month. This was a result of 4,105 unemployed residents no longer seeking employment within the past four weeks, and a 3,189 decrease 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 62.7 percent.
In addition, Indiana's initial unemployment insurance claims continue to be at historical lows.
Learn more about how unemployment rates are calculated here: http://www.hoosierdata.in.gov/infographics/employment-status.asp.
Employment by Sector
Private sector employment has grown by more than 24,400 over the year, and has increased by 3,000 over the previous month, primarily due to gains in the Construction (2,400) and the Leisure and Hospitality (1,700) sectors. Gains were partially offset by losses in the Other (-1,500), which includes Mining and Logging, IT and Other Services, and the Professional and Business Services (-700) sectors. Total private employment stands at 2,691,900 and is 32,100 above the November 2016 peak.
Midwest Unemployment Rates
Data are sourced from January Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics
January employment data for Indiana Counties, Cities and MSAs will be available Tuesday, March 13, 2018 at noon (EST) pending U.S. Bureau of Labor Statistics validation."