Indiana’s unemployment rate remained at a nearly two decade low in October.
Indiana hit 3.2 percent unemployment in September, then remained there in October. That’s the lowest rate since December 2000. And it’s now been seven months since the unemployment rate got worse.
But the Hoosier State has lost about 5,200 total jobs this year. If that trend continues through the end of 2019, it would be the first time in seven years Indiana lost jobs overall in a calendar year.
No sector has been hit harder this year than manufacturing, which has lost about 11,000 jobs through October.
Still, there are positive signs. Indiana’s labor force grew last month – just barely, by a little less than 600 people – for the first time since April. The labor force measures not just those who have a job, but also those actively looking for one. And so growth in the labor force is often seen as a sign of optimism in the economy.
Contact Brandon at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.
