Unemployment Hits 15-Year Low

Posted: Updated:
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.

  • Perspectives

    • 90 Minutes by 2020

      Chicago is the third-biggest city in the United States and more than ten million people live in the Chicagoland metropolitan area. Another seventy-six million people visit the area each year. Chicago is an international hub for commerce, and is a leader in industries like finance, manufacturing, technology, and telecommunications. It boasts the second busiest airport in the world and has one of the largest, most diversified economies in the world.

    More

Events



  • Most Popular Stories

    • Cummins Expanding Indiana Wind Farm

      Columbus-based Cummins Inc. (NYSE: CMI) is expanding a wind farm in northern Indiana. The company says, when fully operational, the farm will generate renewable energy equal to the amount Cummins uses at its Indiana facilities. The expansion will add 75 megawatts of capability to the plant, which is enough to power about 20,000 average Indiana homes. The Meadow Lake Wind Farm complex currently has a capacity of 600 megawatts.

    • On-Air

      Find out when and where you can watch and listen to our reports.

    • Busche Owner Makes Another Acquisition

      Albion-based Busche Performance Group Inc. says its parent company has acquired Michigan-based 3Point Machine Inc. Shipston Equity Holdings LLC, based in New Hampshire, says 3Point will be called Busche Performance Group Southfield Inc. as a result of the merger. 

    • Indiana Is Lifting the Future of Flight

      While on the floor of the Farnborough International Airshow, the world’s largest exhibition dedicated to the aviation industry, it was clear to international industry leaders that Indiana is propelling the future of aerospace and aviation. That’s because, from the unveiling of a new flight technology to the top companies exhibiting at the airshow, everything seemed to keep coming back to Indiana.

    • Saint Joseph's Students, Faculty Scrambling

      Two days after the Saint Joseph's College Board of Trustees voted to suspend activities on the Rensselaer campus, students and faculty are searching for answers. A source with close knowledge of the situation tells Inside INdiana Business one of the issues that led to the school's "dire" financial situation is a trust involving land some say is worth up to $75 million, but would only be able to sell for $15 million because of restrictions in place.