INDIANAPOLIS – 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 (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 are at historical lows.
Miami County Rate
In Miami County, the unemployment rate stood at 3.7%. This is unchanged from September 2017. At that point, the Maimi County rate was higher than the state average for September which stood at 3.6%. Miami County ranks 27th out of the 92 Indiana counties for unemployment.
You can see an Indiana county map listing the rate for each county by clicking HERE. The highest rate in the state for October was Vermillion County at 5.1%. The lowest rate was Adams, Elkhart and LaGrange Counties which had an unemployment rate of just 2.4$.
Employment by Sector
Private sector employment has grown by more than 22,600 over the year and has increased by 2,500 over the previous month, primarily due to gains in the Financial Activities (3,400) and the Trade, Transportation, and Utilities (2,100) sectors. Gains were partially offset by losses in the Professional and Business Services (-3,000) and the Construction (-2,400) sectors. Total private employment stands at 2,691,600 and is 14,700 above the November 2016 peak.
Midwest Unemployment Rates
Data are sourced from October Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics