Indiana’s Unemployment Rate Drops from 4.6 to 4.5 Percent
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Indianapolis – Governor Mike Pence today issued the following statement regarding news that Indiana set all-time highs in total labor force (3,379,290) and total number of employed (3,226,385). The report, issued by the Indiana Department of Workforce Development (DWD), shows that Indiana’s unemployment rate decreased 0.1 percent to 4.5 percent in August, marking a 3.9 percent drop since January 2013. Indiana’s labor force, a measure of Hoosiers employed or seeking employment, has increased 78,756, with 77,113 finding employment, since the start of the year and by nearly 200,000 since January 2013. Indiana’s labor force participation rate is currently at 65.5 percent, compared to the national rate of 62.8 percent. In addition, August is the 14th consecutive month that Indiana has recorded private-sector employment above the previous peak level in March 2000.
“From the onset of my administration, we have worked to make sure creating jobs is Job One,†said Governor Pence. “Today’s news that Indiana has reached all-time highs in both total labor force and total number of employed Hoosiers speaks volumes about the importance of a low-regulation, low-tax environment. And with our unemployment rate dropping yet again, it’s clear that these policies are what makes Indiana a state that works for business. I’m thankful to the companies all across our state who have chosen to grow or expand their operations in Indiana, and I’m thankful to the men and women of our unmatched Hoosier workforce who help make these companies successful.â€
Background
The Indiana unemployment rate stands at 4.5 percent in August 2016. Indiana’s labor force increased 3,516 over the month, with an increase in employment of 6,205. Over the past three years, Indiana’s private sector has grown by 156,800 jobs. Unemployment decreased by 2,689. Indiana’s total private employment grew by 36,400 over the year. Total private employment is now at 2,649,700. The highest levels of growth occurred in the following sectors: Professional and Business Services, Leisure and Hospitality, All Other, and Financial Services. Total private employment for August stands at 37,100 above the March 2000 peak.
