Nearly 8,000 Hoosiers enter labor force in May; 5,000 fewer unemployed than in April; unemployment drops from 5.2 percent in April to 5.0 percent in MayÂ
Indianapolis – Governor Mike Pence today heralded news that Indiana’s unemployment rate dropped 0.2 percent in May, from 5.2 percent to 5.0 percent. The report, issued by the Indiana Department of Workforce Development, shows that Indiana’s economy made strong gains in Trade, Transportation and Utilities. Since January 2013, Indiana’s labor force has increased by more than 186,000 and private sector job growth is up by more than 147,000. This is the eleventh month Indiana has surpassed its prior mark of peak employment. Additionally, the state’s labor force participation rate increased 0.1 percent in May while the nation’s rate decreased 0.2 percent for the second consecutive month. Indiana’s participation rate now stands at nearly three percent above the national average (65.4 percent vs. 62.6 percent).
“With record investment and record employment, there is no denying the momentum of our strong Hoosier economy,†said Governor Mike Pence. “In recent weeks and months, we’ve seen exciting new announcements for investment and growth while Hoosiers continue to join the labor force in droves. Indiana is home to the largest share of advanced manufacturing jobs in the country, and we’ve seen tech companies like Salesforce commit to expanding its regional headquarters here in Indiana, investing more than $40 million into our economy and creating 800 new high-wage jobs. As we continue to invest in infrastructure, workforce and education, Indiana has been named as one of the best places in America to do business. That is a credit to hardworking Hoosiers and the strong leadership our state has experienced over the course of the last decade.â€
BackgroundÂ
The Indiana Unemployment Rate stands at 5.0 percent in May 2016. Indiana’s labor force increased 7,726 over the month, with an increase in employment of 12,932. Unemployment decreased by 5,206. Indiana total private employment grew by 38,300 over the year. Total Private Employment is at 2,640,700.
