Indiana’s unemployment rate decreased 0.2 percent to 4.9 percent in June due mostly to a 2,200 worker increase in the labor force and a sizeable decrease in the number of unemployed Hoosiers. June marked the first month since February of 2008 the rate of unemployment in the Hoosier State has been below 5 percent, and was the third month in a row Indiana experienced significant declines in unemployment.
Indiana’s labor force participation rate of 63.3 percent in June continued to outpace the national average. The Hoosier labor force has grown by nearly 17,000 over the past year, and by 66,000 since January of 2013. Indiana’s labor force expansion has consistently ranked at the top of all Midwest states.
Despite average monthly increases of roughly 4,000 jobs over the past two years, Indiana’s private sector contracted by 3,800 in June, led mainly by declines in the Trade, Transportation & Utilities (-3,600), and Private Educational & Health Services (-900) sectors. June private sector losses were partially offset by gains in the Manufacturing (+1,600), and Leisure and Hospitality (+1,300) sectors.
“Consistent sizable growth of our labor force and significant declines in the number of unemployed Hoosiers since January of 2013 culminated in the lowest unemployment rate in over seven years in June,” said Steven J. Braun, Commissioner of the Indiana Department of Workforce Development. “During the same period, the number of private sector jobs has increased by more than 114,000 and our labor force has consistently participated at a rate above the national average.”
Braun also noted unemployment insurance claims continue to decline and are now at their lowest levels since 1999.
Sectors showing gains in June include: Manufacturing (1,600), Leisure and Hospitality (1,300), Construction (200), and Professional & Business Services (100). The Trade, Transportation & Utilities (-3,600), Private Educational & Health Services (-900), and Financial Activities (-600) sectors declined in June. Total nonfarm employment increased in June (7,700).
Data are sourced from June Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics
Total private sector jobs were revised downward (-1,200) for May by the U.S. Bureau of Labor Statistics.
June employment data for Indiana Counties, Cities, and MSA’s will be available Wednesday, July 22, 2015 at 12 p.m. pending U.S. Bureau of Labor Statistics validation.