Inside INdiana Business

Indiana unemployment ticks down

(image courtesy of the Department of Workforce Development)

INDIANAPOLIS (Inside INdiana Business) — Indiana’s unemployment rate dropped to 3.1% in January, compared to 3.2% the previous month. The Indiana Department of Workforce Development says the state also added 8,400 private sector jobs in the first month of the year.

The DWD says the last time the state’s unemployment was at 3.1% was November 2000.

Figures from the U.S. Bureau of Labor Statistics show Indiana’s labor force saw a net increase of more than 3,700 over the previous month. The state’s total labor force, which includes Hoosiers who are either employed or seeking employment, stands at nearly 3.4 million.

Indiana’s labor force participation rate of 64.4% remains higher than the national rate of 63.4%.

The DWD says the monthly increase in jobs in January was mainly due to gains in the trade, transportation and utilities, leisure and hospitality, and private educational and health services sectors. Those gains were partially offset by losses in the manufacturing sector.

Indiana’s unemployment rate is lower than the national rate of 3.6%, which is a slight increase compared to December. With the drop in January, Indiana now has the lowest unemployment rate in the Midwest, with the closest state being Minnesota at 3.2%.