Unemployment Rate Drops to Six-Month Low

(Graphic proved by the Indiana Department of Workforce Development.)

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Indiana’s unemployment rate has fallen again. At 3.4 percent in December, the figure has reached its lowest rate since July of last year and is down from 3.7 percent in November. The Indiana Department of Workforce Development says private sector employment increased by 6,000 from November to December, driven by gains in the Manufacturing and Private Educational & Health Services sectors. Professional & Business Services and Financial Services sectors lost a combined 6,000 jobs last month.

The state hit peak employment in November of 2016 and has since added 20,800 private sector jobs. The state’s labor force shrunk by more than 14,000 month-to-month and now totals 3.3 million. Indiana has a 63.6 percent labor force participation rate, which is higher than the national average.

U.S. Bureau of Labor Statistics data show Indiana ranks third in the Midwest in terms of unemployment rate, behind Wisconsin and Minnesota at 3 percent and 3.1 percent, respectively. Kentucky ranks fourth at 4.4 percent, followed by Michigan and Ohio at 4.7 percent and Illinois at 4.8 percent. The national average is 4.1 percent.

You can connect to more about the December report by clicking here.