Connect With Us

Inside INdiana Business
Subscribe Now Log In
  • Home
  • News
    • Education
    • Health
    • Tech
    • STEM
    • Advanced Manufacturing & Logistics
    • Life Sciences
    • Ag INnovation
    • INPower
  • Videos
  • Big Wigs
    • Submit Big Wigs
  • Events
    • Engage Southwest Indiana – Evansville
    • Engage Northwest Indiana – Valparaiso
    • Engage Greater Lafayette – West Lafayette
    • Engage West Central Indiana – Terre Haute
    • Engage South Bend – Elkhart
    • Engage Northeast Indiana – Fort Wayne
    • Engage Central Indiana – Indianapolis
  • Newsletters
  • Podcasts
  • On-Air
    • TV & Radio Listings
  • Contact
    • About IIB
    • Meet the Team
    • Contact Us
    • Advertise
    • Gift Cards
    • Flagship Stations
    • Gerry’s Message
    • Speaking Engagement Request

Connect With Us

State Unemployment Rate Dips Again

Tuesday, September 20, 2016 10:29 AM EDT Updated: Tuesday, September 20, 2016 04:18 PM EDT
By Alex Brown
State Unemployment Rate Dips Again Ball State Economist Mike Hicks co-authored the report.

Indiana’s unemployment rate dropped to 4.5 percent in August, compared to 4.6 percent the previous month. The Indiana Department of Workforce Development says the state set all-time highs in total labor force and total number of employed people last month. Ball State University economist Mike Hicks says, for the long term, Indiana’s biggest problems include not having enough people moving to the state to take advantage of its business climate and not having the educated work force that would grow the economy even further.

The DWD says Indiana’s labor force grew by more than 3,500 last month, bringing the state to a record total of 3,379,290. Private sector employment also grew by 5,600 with the stat’s total number of employed people standing at 3,226,385.

"Indiana’s employment and labor force sit at record highs and its labor force participation rate outpaces the nation by nearly three percent, however, significant gains are still achievable to reach our workforce potential as a state," said Steven Braun, commissioner of the Indiana Department of Workforce Development. "As we move forward, it remains essential for DWD, WorkOne and community partners to continue all efforts to locate and train those who are not actively participating in Indiana’s workforce."

"Obviously, we have very strong higher education," said Hicks. "I think the real problem is transitioning those 25,000 kids each year who graduate from high school but don’t have any sort of post-secondary plans. They tend to work at much lower rates than people who have been to college. They tend to make a lot less money and they tend to stay in the state so it’s really an investment in getting them educated I think is the deep challenge that we have."

The highest growth sectors in Indiana for August were professional and business services, leisure and hospitality and financial services. Sectors including construction, manufacturing, private education and health services and trade, transportation and utilities reported losses last month.

Hicks says Indiana is likely to become a better place for middle-class workers over the next year or two in terms of wages. "I do think that these good job numbers suggest that we’re going to start seeing some wage increases, particularly in the middle-skill jobs that are really hard to fill, such as manufacturing, professional services and even healthcare."

Indiana now joins Michigan with the lowest unemployment rate of the surrounding states at 4.5 percent. The national unemployment rate remained steady at 4.9 percent. You can find more information on the August employment report by clicking here.

Story Continues Below

Ball State Economist Mike Hicks says Indiana’s high labor force participation rate is very good news.
Your browser does not support the audio element.

Most Popular Stories

  • Did the Federal Reserve stick the (soft) landing?

  • Gahl: Developments show confidence in downtown Indy

Perspectives

Did the Federal Reserve stick the (soft) landing?

Did the Federal Reserve stick the (soft) landing?

When Federal Reserve Chair Jerome Powell began increasing interest rates in early 2022, few economists predicted a resilient economic response. It wasn't a matter of "if" we would be pushed into a recession but how bad the recession would be. Nearly two years into the steepest increase in interest rates in over 40 years, can we now say we've achieved a soft landing? Or is this a delayed economic response with a 2024 recession certain to come?...

Inside INdiana Business

Inside INdiana Business
A division of IBJ Media

1 Monument Circle, Suite 300
Indianapolis, IN 46204

PHONE: (317) 634-6200

FAX: (317) 263-5060

NEWSLETTER@IIBNEWS.COM

  • Home
  • News
  • Videos
  • Gerry Dick
  • Newsletters
  • On-Air
  • Contact

Copyright © 2023 All Rights Reserved Privacy Policy | Terms of Service