This just in via email from the Indiana Department of Workforce Development. NOTE: the increase of 2,964 in unemployed residents shows 2,964 more people are now seeking jobs – people who gave up looking long ago are now re-entering the job market in earnest with intent to become employed. This is a very strong indicator that the quality and benefits of available jobs has increased enough to attract more workers.
July Indiana Employment Report
INDIANAPOLIS (Aug. 17, 2018) – Indiana’s unemployment rate stands at 3.4 percent for July and remains lower than the national rate of 3.9 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 increase of 15,564 over the previous month. This was a result of a 2,964 increase in unemployed residents and an increase of 12,600 employed residents. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.38 million, and the state’s 64.8 percent labor force participation rate remains above the national rate of 62.9 percent. Indiana’s labor force growth of 67,519 over the past six months represents the state’s largest six-month increase since 1995 in the state.
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.