INDIANAPOLIS (WANE) – Indiana’s unemployment rate remains at 4% for February while the national rate is 6.2%, the Indiana Department of Workforce Development reported Friday. The monthly unemployment rate is a U.S. Bureau of Labor Statistics indicator that shows the number of unemployed people seeking employment within the prior four weeks.
The department reports that Indiana’s labor force had a net decrease of 4,971 over the previous month. This was due to a decrease of 7,402 unemployed residents and an increase of 2,431 employed residents.
Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.34 million, the department said. The state’s 63.2% labor force participation rate remains above the national rate of 61.4%.
Employment by Sector:
The department reports that private sector employment has decreased by 113,400 over the year and decreased by 6,600 over the previous month. This monthly decrease is primarily due to losses in the Trade, Transportation and Utilities (-5,500) and the Financial Activities (-900) sectors. Losses were offset by gains in the Manufacturing (2,500) and the Leisure and Hospitality (1,500) sectors. Total private employment stands at 2,622,000, which is 118,500 below the new December 2019 peak.
Learn more about how unemployment rates are calculated here.