INDIANAPOLIS (WANE) – Indiana’s unemployment rate stands at 4.0%for May with the national rate at 5.8%, the Indiana Department of Workforce Development (DWD).
“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,” the department said.
Indiana’s labor force had a net increase of 6,370 over the previous month. DWD said this is a result of an increase of 3,292 unemployed residents and an increase of 3,078 employed residents.
Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.34 million, DWD reports. the state’s 63.2% labor force participation rate remains above the national rate of 61.6%.
Learn more about how unemployment rates are calculated here: http://www.hoosierdata.in.gov/infographics/employment-status.asp.
Employment by Sector:
Private sector employment has increased by 234,800 over the year and decreased by 2,700 over the previous month, DWD reports. The monthly decrease is primarily due to losses in the Manufacturing (-3,600) and the Trade, Transportation and Utilities (-700) sectors. Losses were offset by gains in the Leisure and Hospitality (1,900) and the Construction (400) sectors. Total private employment stands at 2,620,800, which is 119,700 below the December 2019 peak.
Midwest Unemployment Rates:
DWD said data is sourced from May Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics.