INDIANA – Indiana’s unemployment rate dropped to 2.3% in February from 2.4% in January—continuing a favorable streak that began in May 2020 in which the unemployment rate each month since has either fallen or remained stable, according to the Indiana Department of Workforce Development (DWD). The national unemployment rate, by comparison, decreased to 3.8% in February from 4.0% in January.
In addition, Indiana’s labor force participation rate rose from 61.9% in January to 62.1% in February, falling just below the national rate of 62.3%. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3,315,890.
“This is positive news for the State of Indiana,” DWD Commissioner Fred Payne said. “Unemployment fell again while private employment and labor force participation numbers both increased—a winning combination. Now we need to sustain that success long-term.”
Private sector employment in Indiana increased by 10,800 jobs over the last month, resulting in a gain of 101,500 jobs from this time last year. Total private employment now stands at 2,743,800—a new preliminary peak for the state. The monthly increase in jobs primarily can be attributed to:
• Professional & Business Services (+5,400)
• Trade, Transportation & Utilities (+2,900)
• Financial Activities (+1,500)
• Construction (+1,200)
Currently, there are 152,390 open job postings throughout the state. The number of people in Indiana that received unemployment benefits during February was 22,901.
“With so many opportunities available, it’s a great time for those seeking to return to the workforce, or those who are already employed and desire a change, to find stable work and good wages and learn new skills,” Payne continued.
Data are sourced from February Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics.
February Employment data for Indiana Counties, Cities, and MSAs will be available Monday, March 28, 2022, at noon (Eastern) pending U.S. Bureau of Labor Statistics validation.