INDIANAPOLIS (Nov. 20, 2020) – Indiana’s unemployment rate drops to 5.0 percent for October, and the national rate is 6.9 percent. The monthly unemployment rate is a U.S. Bureau of Labor Statistics (BLS) indicator that reflects the number of unemployed people seeking employment within the prior four weeks as a percentage of the labor force.
Indiana’s labor force had a net decrease of 7,271 over the previous month. This was a result of a decrease of 41,803 unemployed residents and an increase of 34,532 employed residents. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.34 million, and the state’s 63.1 percent labor force participation rate remains above the national rate of 61.7 percent.
Learn more about how unemployment rates are calculated here: http://www.hoosierdata.in.gov/infographics/employment-status.asp.
Employment by Sector
Private sector employment has decreased by 83,900 over the year and increased by 23,300 over the previous month. The monthly increase is primarily due to gains in the Trade, Transportation and Utilities (8,600), the Professional and Business Services (7,400) and the Leisure and Hospitality (3,600) sectors. Gains were offset by a loss in the Construction (-900) sector. Total private employment stands at 2,645,400, which is 103,900 below the January 2019 peak.
Midwest Unemployment Rates
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EDITOR’S NOTES:
Data are sourced from October Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics
October employment data for Indiana Counties, Cities and MSAs will be available Monday, Nov. 23, 2020, at noon (Eastern) pending U.S. Bureau of Labor Statistics validation.
