Unemployment Hits 15-Year Low

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INDIANAPOLIS -

Indiana's unemployment rate dropped to 4.2 percent in November, which is the lowest it has been since 2001. The Indiana Department of Workforce Development says the state added more than 13,000 private sector jobs last month.

The U.S. Bureau of Labor Statistics says Indiana's total labor force decreased by more than 13,000 last month and remains at more than 3.3 million. The state's labor force participation rate is 64.7 percent, which is two percent above the national rate.

"Indiana’s unemployment rate continues to drop while private sector employment continues to grow, which are positive signs for Hoosier workers and jobseekers," said DWD Commissioner Steven Braun. "In order for Indiana to remain one of the most appealing states for business in the nation, it is critical that DWD engages and trains potential workers not actively participating in Indiana’s workforce in order to meet employers’ current and future demand for skilled workers."

The highest growth sectors for Indiana in November were professional and business services, financial activities and manufacturing. The construction sector was the only one to report a loss last month.

"Here in Indiana, job creation is job one, and we continue to work tirelessly to build a pro-growth business climate and equip job creators with the tools they need to succeed," said Indiana Secretary of Commerce Victor Smith. "Since 2013, Indiana businesses have added 168,000 jobs for hardworking Hoosiers and our unemployment rate has plummeted below the national average. Our state’s low-cost, low-tax, limited-regulation economic environment has not only earned Indiana recognition as first in the Midwest and fifth in the nation for doing business, but it creates fiscal predictability, allowing job creators to invest in what matters most – in their business and in their employees."

Indiana remains below the national average of 4.6 percent. Indiana is also reporting the lowest unemployment rate of the surrounding states, with Kentucky being the closest at 4.8 percent.

You can find more information on the November employment report by clicking here.

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