Unemployment Rate Ticks Downward
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndiana's unemployment rate was 5.8 percent in August, down from 5.9 percent in July. The Department of Workforce Development says, despite the decrease, the state's private sector lost 2,600 jobs last month.
September 19, 2014
News Release
Indianapolis, Ind. — Indiana's seasonally adjusted unemployment rate dropped by 0.1 percent in August to 5.8 percent. Over the past year, unemployment in the Hoosier State has decreased by 1.7%, which is one of the largest rates of decline in the United States. Over this same period, Indiana's labor force has increased by more than 51,000 workers, also ranking the state near the top in the nation.
Despite the decrease in unemployment, Indiana's private sector shed 2,600 jobs in August, led primarily by the Private, Educational & Health Services sector, which declined by 4,100 over the month. Losses were somewhat offset by a growth of 900 jobs in the Manufacturing sector, which has added more than 20,000 jobs over the past year. Since July 2009, the low point of employment in the state, Indiana has added over 84,000 manufacturing jobs and the private sector as a whole has expanded by 244,000 workers, both of which rank the state near the top in the United States.
“Indiana's unemployment rate has decreased 1.7 percent over the past year, while the labor force has expanded by more than 51,000 workers, which is quite remarkable,” said Scott B. Sanders, Commissioner of the Indiana Department of Workforce Development. “During the same period, the Hoosier State has also added more than 56,000 private sector jobs. Together, these figures stand in stark contrast to our Midwestern neighbors.”
Sanders also noted initial claims and continued claims for unemployment insurance benefits remain at levels not seen since 2000.
Employment by Sector
Sectors showing gains in August include: Professional & Business Services (1,000), Manufacturing (900), Financial Activities (300), and Construction (100). Sectors showing declines in August include Private Educational & Health Services (-4,100), Trade, Transportation & Utilities (-500), and Leisure and Hospitality (-300). Total non-farm employment increased in August (3,400).
Midwest Unemployment Rates
EDITOR'S NOTE: Total private sector jobs were revised upward (+2,600) for July by the U.S. Bureau of Labor Statistics. August employment data for Indiana Counties, Cities, and MSA's will be available Monday, September 22, 2014 at 12 p.m. pending U.S. Bureau of Labor Statistics validation.
The September 2014 Indiana Employment Report will be released on Tuesday, October 21, 2014, and the September 2014 Indiana County, City and MSA Employment Report will be released on Wednesday, October 22, 2014 at 12 p.m.
Source: Indiana Department of Workforce Development