Indiana shows one of biggest drops in unemployment as pandemic benefits end

Indiana

INDIANAPOLIS (WANE) – Monday is the end of the Pandemic Unemployment benefits.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020 by former President Donald Trump. This allowed workers impacted by the pandemic who don’t aren’t usually eligible for unemployment benefits, such as self-employed and gig workers, the chance to receive unemployment insurance.

During the pandemic, those collecting unemployment received an additional $300 from the federal government, on top of state benefits.

Now, both programs have expired.

According to the Department of Labor, nationally, the number of people applying for jobless aid dropped by 14,000. Now the nation’s total is around the 340,000 mark.

For the Hoosier State, The Indiana Department of Workforce development stated that more Hoosiers returned to work prior to the Sept. 6 deadline for expiring benefits.

Indiana’s unemployment rate decreased by 12.8% since the peak mark in April 2020. This is the fifth largest drop in the United States.

When it comes to private employment, there is an increase of month-over-month by 17,000 jobs, and nearly 100,000 recovered jobs over the year. Indiana’s labor force is at roughly 3.37 million and has increased 41,694 from the same time a year ago. The state’s labor force participation rate is at 63.2% and above the U.S. rate of 61.7%

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