INDIANAPOLIS (Aug. 18, 2014) – Indiana’s unemployment rate held steady in July, according to numbers released by the Department of Workforce Development.
Unemployment in the Hoosier State is at 5.9 percent, the same level as June. It’s below the national unemployment rate, which sits at 6.2 percent, up from 6.1 percent from the previous month.
Joseph Frank with the Indiana Department of Workforce Development says the state added nearly 10,000 private sector jobs for the second month in a row. He also says Indiana had the highest manufacturing job growth in the nation, accounting for 5,500 of the jobs added. Frank attributes the lack of change in the unemployment rate to a growing labor force.
“So many people are coming back into the labor force to look for work, because they know jobs are available," says Frank. "So it kind of makes the unemployment rate hold stagnant.”
Frank says Indiana's work force has grown by 54,000 over the past year, which is more than eight times the national growth rate.
“The large private sector job growth alongside the increase in labor force bodes well for the future,” predicts Frank.
Compared to the rest of the nation, Indiana has seen the eighth largest decrease in unemployment over the past year. However, since Indiana's highest unemployment rate in July 2009, there has been a 4.9 percent drop in unemployment, representing the third biggest decrease in the country.
“In Indiana the private sector is really growing compared to other states; especially manufacturing, but also other sectors like trade, transportation, utilities, logistics and trucking is very big right now in this state,” says Frank.
Here’s how unemployment in Indiana compares to the national rate and unemployment in neighboring states:
Indiana – 5.9% (also 5.9% in June)
National rate – 6.2% (up from 6.1% in June)
Illinois – 6.8% (down from 7.1% in June)
Kentucky – 7.4% (also 7.4% in June)
Michigan – 7.7% (up from 7.5% in June)
Ohio – 5.7% (up from 5.5% in June)
Frank says Hoosiers who are still looking for work should visit WorkOneWorks.com.
“We do have so many wonderful training and education services that are free to help you find a job as quickly as possible or get back into some sort of training that could have a long-term positive effect in your life.”