Indiana’s unemployment rate dropped to 4.4 percent in October and Indiana businesses added 3,400 new Hoosier jobs last month, according to a Bureau of Labor Statistics report released today by the Indiana Department of Workforce Development.
“October was another robust month for job creation as Indiana business leaders continue to hire hardworking Hoosiers to support the future of their firms,” said Victor Smith, Indiana Secretary of Commerce.
“By building one of the nation’s top climates for business in Indiana with low taxes, balanced budgets and limited regulations, we’re working hard to make it easier for job creators to do what they do best – create jobs and grow our Hoosier communities.
And businesses are taking notice. Just last month, companies across the state announced plans for continued growth that will bring hundreds of new jobs to Brownsburg, Mount Vernon, Indianapolis, Chandler, North Vernon, Angola, North Judson, North Manchester and New Albany because they recognize the benefits of doing business in a state that works.”
- Unemployment: The state’s unemployment rate – now at 4.4 percent – declined 0.1 percent in October, standing below the national average as well as all of Indiana’s neighboring states. Indiana’s unemployment rate has dropped a full 4 percent since January 2013, surpassing the national decline of 3.1 percent.
- Job Growth: Indiana businesses have added 26,900 new jobs so far this year and 156,200 new jobs since January 2013. The state’s private sector job growth has increased by 14 percent since July 2009, surpassing the nation’s growth of 13.4 percent. October marks the 16th consecutive month that private sector employment has remained above Indiana’s previous employment record from March 2000.
- Labor Force: Indiana’s labor force, which includes both Hoosiers who are employed and those seeking employment, has increased by 83,409 over the last year and 174,888 since January 2013. The state’s labor force has grown by 5.3 percent since July 2009, surpassing the nation’s growth rate of 3.4 percent. At 65 percent, the state’s labor force participation rate – the percentage of Hoosiers that are either employed or actively seeking work – remains above the national rate of 62.8 percent.
