Hicks: Employment Numbers 'Stunning'Posted: Updated:
A Ball State University economist says "Santa was very good" to Indiana. Mike Hicks says the more than 25,000 private sector jobs created in November are in "solid" sectors that reflect a longer-term, more positive climate. The state's unemployment rate was announced this morning at 7.3 percent, down from 7.5 percent the previous month. He says if the numbers remain this low, it could lead to more people relocating to the state for jobs. December 20, 2013
INDIANAPOLIS, Ind. - Indiana gained 25,300 private sector jobs in November, the largest one-month increase in The Hoosier State on record. All employment sectors saw significant growth, with the exception of the leisure and hospitality sector, which was unchanged for the month. Employment sectors experiencing the largest increases in hiring over the month were Trade, Transportation & Utilities (+6,800), Construction (+5,400), Manufacturing (+4,800), and Professional and Business services (+4,700). Indiana was responsible for nearly 13 percent of the nation's private sector job growth in November.
Indiana's unemployment rate declined in November as well, dropping 0.2 percent to 7.3 percent, lower than all neighboring states. Fewer Hoosiers are now unemployed (232,400), than in November of 2008 (240,600).
"Today's job numbers are welcome news to every Hoosier and are a testament to the hard working people of our state and the businesses that power Indiana's economy every day," said Governor Mike Pence. "The continued downward trend in unemployment and the significant growth in private sector jobs demonstrate that Indiana's economy is strong and growing stronger every day," said Governor Mike Pence.
"November was a historic month of job growth in Indiana," said Scott B. Sanders, Commissioner of the Indiana Department of Workforce Development. "It is encouraging that fewer Hoosiers are unemployed than in November of 2008, and the unemployment rate has dropped by more than a percentage point over the past few months. However, we need to keep the ball moving by strengthening Indiana’s pro-growth climate."
Sanders also noted claims for unemployment insurance continue to be at their lowest levels since 2000.
Sectors showing gains in November include: Trade, Transportation & Utilities (6,800), Construction (5,400), Manufacturing (4,800), Professional and Business Services (4,700), Financial Activities (1,300), and Private Educational & Health Services (600). No sectors showed declines in November. Total non-farm employment increased in November (25,200).
NOTE: Total private sector jobs were revised upward (600) for October by the U.S. Bureau of Labor Statistics. The December 2013 Employment Report will be released on Tuesday, January 28, 2014.
Source: The Indiana Department of Workforce Development