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.
Employment by Sector
Private sector employment has grown by more than 24,800 over the year, and has increased by 5,600 over the previous month, primarily due to gains in the Professional & Business Services (2,700) and the Construction (2,000) sectors. Gains were partially offset by losses in the Other (-1,000), which includes Mining and Logging, IT and Other Services, and the Financial Activities (-400) sectors. Total private employment stands at 2,703,800 and is 14,900 above the December 2017 peak.
Midwest Unemployment Rates