The monthly unemployment rate is a U.S. Bureau of Labor Statistics within the prior four weeks as a percentage of the labor force.
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(Indianapolis, Ind.) - The Indiana Department of Workforce Development announced the unemployment rate in Indiana has dropped to 3.1 percent for January.
With the percentage dropping it remains lower than the national rate of 3.6 percent. The last time the unemployment rate in Indiana was lower than 3.1 percent was November of 2000. The monthly unemployment rate is a U.S. Bureau of Labor Statistics indicator which reflects the number of unemployed people seeking employment within the prior four weeks as a percentage of the labor force.
Over the previous month, Indiana’s labor force saw a net increase of 3,779. This then resulted in a decrease of 877 unemployed residents and an increase of 4,636 employed residents.
Indiana’s total labor force which includes both Hoosiers who are employed and those seeking employment stands at 3.39 million, and the states 64.4 percent labor force participation rate remains above the national rate of 63.4 percent.
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