(INDIANAPOLIS) – Indiana’s unemployment rate drops to 3.1 percent for January and remains lower than the national rate of 3.6 percent. The last time Indiana’s unemployment rate was lower than 3.1 percent was November 2000.
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 increase of 3,749 over the previous month. This was a result of a decrease of 877 unemployed residents and an increase of 4,626 employed residents. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.39 million, and the state’s 64.4 percent labor force participation rate remains above the national rate of 63.4 percent.
Learn more about how unemployment rates are calculated here: http://www.hoosierdata.in.gov/infographics/employment-status.asp.