Private Sector Gains Keep Unemployment Rate SteadyPosted: Updated:
Indiana's unemployment rate remained at 5.7 percent in November. The Department of Workforce Development says more private sector jobs were added last month than in any other month over the last 15 years. Jobs in the services, transportation and utility and manufacturing industries accounted for a majority of the gains. December 19, 2014
INDIANAPOLIS, Ind. - The Hoosier State grew 15,800 private sector jobs in November, the most in a one-month period in 15 years. Last month, the rate of private sector growth in Indiana was double that of the United States (0.6 percent versus 0.3 percent). Private sector gains spanned nearly every sector, with larger increases concentrated in Professional & Business Services, (+6,400) Trade, Transportation & Utilities, (+3,400) and Manufacturing, (+2,300). Indiana has experienced private sector job growth 17 of the past 23 months, with gains averaging 4,500 per month during that period. Since July 2009, the low point of employment in Indiana, the Hoosier State has added 264,800 private sector jobs, with the Manufacturing sector accounting for more than one-third of the total (+94,700).
Indiana’s seasonally adjusted unemployment rate held steady in November at 5.7 percent, due mainly to the addition of 12,300 individuals to the Hoosier labor force. Over the past year, Indiana’s labor force has increased by more than 75,000. November also marks the 11th consecutive month Indiana’s unemployment rate has been below the national average.
“Indiana’s private sector job growth in November, when taken in historical context is quite remarkable,” said Steven J. Braun, Commissioner of the Indiana Department of Workforce Development. “Equally impressive is the fact that the Hoosier State has added more than 75,000 individuals to our labor force over the past year alone.”
Braun also noted 63.6 percent of Hoosiers are participating in the labor force, which is nearly a full percentage point higher than the national average. November marked the eighth month in a row Indiana has exceeded the national rate.
Employment by Sector
Sectors showing gains in November include: Professional and Business Services (6,400), Trade, Transportation & Utilities (3,400), Manufacturing (2,300), Financial Activities (1,900), Private Educational & Health Services (1,800),and Construction (1,500). The Leisure and Hospitality (-1,500) sector was the only to experience declines in November. Total nonfarm employment increased in November (15,100).
Midwest Unemployment Rates
November 2013 October 2014 November 2014 Monthly Change
Indiana 6.9% 5.7% 5.7% 0.0%
U.S. 7.0% 5.8% 5.8% 0.0%
Illinois 9.0% 6.6% 6.4% -0.2%
Kentucky 8.1% 6.2% 6.0% -0.2%
Michigan 8.5% 7.1% 6.7% -0.4%
Ohio 7.2% 5.3% 5.0% -0.3%
Source: The Indiana Department of Workforce Development