Indiana’s private sector added jobs last month while the state’s labor force extended its growth streak.
Yet the Hoosier unemployment rate only managed to hold steady, despite those positive metrics.
The labor force is a measure that counts, not only those who have a job, but also those actively looking for one. It’s often viewed as a barometer for the economy – growth shows people are optimistic, decline is a negative sign. And Indiana’s labor force has grown for eight consecutive months.
The state’s private sector increased jobs for the third consecutive month after a 2,500-person boost in September.
But the Indiana unemployment rate remains at 3.5 percent. It’s been seven months since the rate went down – the longest stretch without a decline in more than five years.