Unemployment Drops 0.2 Percent To 4.8 Percent; Labor Force Hits Record Peak
Indianapolis – Governor Mike Pence today issued the below statement following news that Indiana’s unemployment rate decreased 0.2 percent to 4.8 percent in June, marking a 3.6 percent drop since January 2013. The report, issued by the Indiana Department of Workforce Development (DWD), shows that Indiana’s labor force has increased by more than 190,000 since January 2013. June is the 12th consecutive month that Indiana has recorded private sector employment above the March 2000 peak, and Indiana’s labor force participation rate is nearly 3 percent higher than the national average (65.4 percent vs. 62.7 percent). Over the past three years, Indiana’s private sector has grown by 148,000 jobs.
“With more than 8,500 Hoosiers finding employment in June, and with a labor force participation rate nearly 3 percent higher than the national average, it’s clear that Indiana is on a roll,†said Governor Pence. “Our economic momentum is a testament to the hardworking Hoosiers in businesses large and small who are dedicated to starting and growing their companies in the Hoosier state. As we continue to foster an environment of growth and opportunity, our administration will continue to practice the pro-growth, low-regulation policies that help our economy grow.â€
Background
The Indiana unemployment rate stands at 4.8 percent in June 2016. Indiana’s labor force increased 3,476 over the month, with an increase in employment of 8,594. Unemployment decreased by 5,118. Indiana’s total private employment grew by 36,300 over the year. Total private employment is now at 2,641,000. The highest levels of growth occurred in the following sectors: Leisure and Hospitality, Construction, Private Education and Health Services, and Trade, Transportation, and Utilities. Since July 2009, the highest point of unemployment for the state, Indiana’s private sector employment growth has surpassed the nation’s growth (13.7 percent vs. 12.8 percent). Total private employment for June stands at 28,400 above the March 2000 peak. Additionally, initial unemployment insurance claims for the first 28 weeks of 2016 are at their lowest point since 1987.
