Unemployment rate fell
Revision: Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.31 million, not 3.33 million, as indicated in the previous news release.
INDIANAPOLIS (January 25, 2022) -Indiana’s unemployment rate fell from 3.0% in November to 2.7% in December—a record low for the state dating back to 1976, according to the Indiana Department of Workforce Development (DWD).
In addition, private sector employment jumped by 10,900 over the last month and has now increased for six of the last seven months. This has resulted in a gain of 82,400 jobs year-over-year. Total private employment now stands at 2,705,500—35,000 below the December 2019 peak of 2,740,500.
“With a 2.7% unemployment rate and more than 150,000 job postings statewide, there are now more employment and economic opportunities available than there have been in several decades,” DWD Commissioner Fred Payne said. “We will continue to offer Hoosier job seekers the proper skills training to secure the job of their choice, and Hoosier employers the tools to find workers to fit their needs.”
By comparison, the national unemployment rate dropped from 4.2% in November to 3.9% in December.
Learn more about how unemployment rates are calculated here: https://www.hoosierdata.in.gov/infographics/employment-status.asp.
Indiana’s labor force had a net decrease of 8,774 over the previous month, due to an increase of 3,836 employed residents and a decrease of 12,610 unemployed residents.
Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.33 million. The state’s labor force participation rate of 62.4% remains above the national rate of 61.9%.
Employment by Sector
The monthly increase in jobs can primarily be attributed to:
• Construction (+3,000)• Leisure and Hospitality (2,300) • Professional & Business Services (2,000) • Private Education & Health Services (1,900) • Trade, Transportation & Utilities (1,600)
Midwest Unemployment Rates