Unemployment Rate Rebounds In November; Labor Force Continues Drop

Indiana’s unemployment rate rebounded in November after four consecutive months of increases.

The Hoosier unemployment rate fell two-tenths of a percent last month, down to 3.7 percent. That’s the first time since June it’s dropped.

But the private sector shed 4,200 jobs in November, primarily in the trade, transportation, and utilities sector, as well as leisure and hospitality jobs.

And more troublingly, the state’s labor force faced a second consecutive month of significant decline – more than 15,000 fewer people in November. The labor force measures people who have a job or are actively looking for one. Declines in the labor force are often viewed as signs of pessimism in the economy.