State Unemployment Rate at Seven-Year Low
Indiana's unemployment rate has fallen below 5 percent for the first time in more than seven years. Despite the dip to 4.9 percent, private sector decreased by 3,800 in June. The manufacturing sector had a strong month, adding 1,600 jobs.
The state has notched three consecutive months of what the Indiana Department of Workforce Development calls "significant declines" in unemployment.
Indiana's labor force participation rate was 63.3, which is higher than the national average.
Commissioner of the Indiana Department of Workforce Development Steven Braun says unemployment insurance claims are at the lowest level since 1999. He adds "consistent sizable growth of our labor force and significant declines in the number of unemployed Hoosiers since January of 2013 culminated in the lowest unemployment rate in over seven years in June. During the same period, the number of private sector jobs has increased by more than 114,000 and our labor force has consistently participated at a rate above the national average."
The U.S. average unemployment rate was 5.3 percent in June. Indiana's 0.2 percent drop is in line with the rest of the country and outpaces Illinois, Kentucky, Michigan and Ohio.