Kokomo Tribune; Kokomo, Indiana

Business

November 24, 2013

Indiana unemployment drops

Manufacturing jobs driving the Hoosier economy

Indiana continued its downward trend in unemployment in October, according to U.S. Bureau of Labor Statistics numbers released Friday.

Indiana’s seasonally adjusted unemployment rate dropped by nearly 1 percentage point over the past three months to 7.5 percent. The decrease in unemployment in the Hoosier State signifies the largest three-month drop in more than 20 years, since September 1993. Indiana began the year with a rate of 8.6 percent and was at 8.4 percent in July. The last time Indiana’s unemployment rate was below 8 percent was November of 2008.

Here are some of the employment highlights, as emphasized by the Indiana Department of Workforce Development.

• Over the past three months, Indiana’s labor force has expanded by 6,000 workers and the number of unemployed Hoosiers has decreased by more than 27,000

• Over the past year, Indiana has added 32,000 private sector jobs, nearly 22,000 since January.

• Indiana’s private sector job growth ranks fifth in the nation in percentage of growth since the low point of employment in July 2009 (8.4 percent), and 10th in the nation in total private sector growth since July 2009 (+196,200).

• The Hoosier State added the fourth most manufacturing jobs in the nation during October (+3,600).

• Since the low point of employment in July 2009, Indiana has added 60,000 manufacturing jobs, which is second in the nation, at a 14% rate of growth, also 2nd in the nation.

• The Hoosier State continues to have the highest percentage of manufacturing jobs as a portion of the private sector in the United States.

• Over the past year, trade, transportation and utilities job growth in Indiana ranks third in the nation (+23,000), at a rate of growth which ranks second in the nation (+4.1 percent).

• Since the low point of employment in July 2009, Indiana has added 40,200 trade, transportation and utilities jobs, which is seventh in the nation, at a 7.4 percent rate of growth, also seventh in the nation.

• Indiana’s construction growth in October ranked eighth in the nation (+1,700).

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