Business

Indiana’s state-wide unemployment lower than national rate

From the Indiana Department of Workforce Development:

Indiana’s unemployment rate stands at 4.3 percent for December, and the national rate is 6.7 percent. 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 83,609 over the previous month. This was a result of a decrease of 23,903 unemployed residents and an increase of 107,512 employed residents. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.39 million, and the state’s 64.0 percent labor force participation rate remains above the national rate of 61.5 percent.

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 decreased by 69,900 over the year and increased by 17,400 over the previous month. The monthly increase is primarily due to gains in the Trade, Transportation and Utilities (8,400) and the Professional and Business Services (5,800)sectors. Gains were offset by losses in the Leisure and Hospitality (-1,100) and the Private Education and Health Services (-200) sectors. Total private employment stands at 2,663,600, which is 85,700 below the January 2019 peak.

EDITOR’S NOTES:

Data are sourced from December Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics

Featured photo by Anna Tarazevich from Pexels

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