State of Indiana unemployment rate continues four year run below national average
INDIANAPOLIS, Ind. — Indiana’s unemployment rate stands at 3.9 percent for October and remains lower than the national rate of 4.1 percent. With the exception of one month when it was equal to the national rate in October 2014, Indiana’s unemployment rate now has been below the U.S. rate for four full years.
The monthly unemployment rate is a U.S. Bureau of Labor Statistics (BLS) 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 decrease of 11,694 over the previous month, which was a result of 2,351 unemployed residents seeking employment and a 14,045 decrease in residents employed.
Indiana’s total labor force stands at 3.33 million, and the state’s 64.2 percent labor force participation rate remains above the national rate of 62.7 percent.
In addition, Indiana’s initial and ongoing unemployment insurance claims also posted at historical lows.