Hoosier employment remains steady overall
Indiana’s unemployment rate stands at 3.2 percent for October and remains lower than the national rate of 3.6 percent.
The monthly unemployment rate is a U.S. Bureau of Labor Statistics indicator that reflects the number of unemployed people seeking employment within the prior four weeks as a percentage of the labor force.
Indiana’s labor force had a net increase of 567 over the previous month.
The small increase was a result of a decrease of 1,397 unemployed residents and an increase of 1,964 employed residents.
Indiana’s total labor force, which is composed of employed Hoosiers and those seeking employment, stands at 3.38 million. The state’s 64.4 percent labor force participation rate remains above the national rate of 63.3 percent.
Private sector employment has grown by 16,500 over the year, but decreased by 2,000 over the previous month.
The monthly decrease primarily is due to 4,000 job losses in manufacturing; 2,000 in trade and transportation, and 2,100 in utilities.
Losses partially were offset by gains in leisure and hospitality at 2,100, and professional and business services at 1,500.
Total private employment stands at 2,734,500, which is 2,400 above the December 2018 peak.