April 19, 2024

Indiana's labor force shrinks in March, as unemployment rate holds steady

Listen at IPB News

Article origination IPB News
Indiana's unemployment rate has held steady at 3.5 percent since September 2023. - File photo: Justin Hicks / IPB News

Indiana's unemployment rate has held steady at 3.5 percent since September 2023.

File photo: Justin Hicks / IPB News

Indiana’s labor force has declined five consecutive months, the longest such streak in more than two years.

That’s as the state’s unemployment rate has been unchanged for seven months in a row.

Indiana’s unemployment rate was 3.5 percent in March, the same rate it’s been since September and lower than the national rate.

But the state’s labor force continues to shrink. The labor force is a count of not just those with a job, but also those actively looking for one. It’s often cited as a measure of optimism in the economy. And that measure has declined by about 28,000 people since October.
 

Join the conversation and sign up for the Indiana Two-Way. Text "Indiana" to 765-275-1120. Your comments and questions in response to our weekly text help us find the answers you need on statewide issues.
 

That five month change is driven almost entirely by those who no longer have jobs, to the tune of more than 29,000 people.

The number of people out of work but actively seeking employment over that period is up by just 235.

Brandon is our Statehouse bureau chief. Contact him at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.

Copyright 2024 IPB News.
Support independent journalism today. You rely on WFYI to stay informed, and we depend on you to make our work possible. Donate to power our nonprofit reporting today. Give now.

 

Related News

Rokita unopposed at Indiana GOP convention, lieutenant governor race contested
Industry trade groups, environmental groups react to new EPA lawsuit
Indiana's labor force rate is at its lowest in more than two years