Indiana Employment Continues to Rise, Unemployment Rate Drops
Indiana businesses added 5,600 new jobs in August, bringing Indiana's total private sector employment to 2.65 million, according to a Bureau of Labor Statistics report released today by the Indiana Department of Workforce Development.
“Indiana’s economy is experiencing incredible momentum right now. The state’s job creators have hired more than 150,000 Hoosiers since January 2013, and businesses continue to pick Indiana for future growth,” said Victor Smith, Indiana Secretary of Commerce. “Within the last month alone, companies like General Motors, Daimler Trucks, inTech Trailers, Ken’s Foods, Polycon Industries and Japan-based Aisin USA Manufacturing have all announced plans to grow and create new Hoosier jobs across our state. Job creation is job one in Indiana, and with a business climate that’s ranked the best in the Midwest and fifth in the nation, there’s a lot to be excited about here in Indiana.”
Indiana has added 36,400 new private sector jobs so far this year and 156,800 jobs since January 2013. August marks the 14th consecutive month with total employment in the state’s private sector exceeding Indiana’s previous peak employment record from March 2000.
Indiana’s seasonally-adjusted unemployment rate also dropped this month, falling 0.1 percent in August to 4.5 percent – below the national average of 4.9 percent. With this drop, Indiana’s unemployment rate has plunged 3.9 percent since January 2013, outpacing the nation’s decline of 3.1 percent.
This happened while Indiana’s labor force, which includes both Hoosiers who are employed and those seeking employment, grew to its largest size ever standing at 3.38 million Hoosiers, gaining 3,516 Hoosiers in August and 78,756 Hoosiers so far in 2016. Indiana’s labor force participation rate, the percentage of the state’s population that is either employed or actively seeking work, grew this month to 65.5 percent, remaining above the national rate of 62.8 percent.
Source - IEDC