FORT WAYNE, Ind. (WANE) – All northeast Indiana counties dipped below 5% unemployment in the newest report from the Indiana Department of Workforce Development. The latest monthly jobs update is an encouraging sign amid the pandemic.
An unemployment rate below 5% is considered full employment as measured by people working or actively seeking employment, according to the DWD.
Adams County reported the lowest seasonally adjusted rate in northeast Indiana at 3.1%. Allen County has the highest unemployment rate at 4.9%.
Part of the reason unemployment is low is because fewer people are searching for jobs, for a slew of reasons connected to the pandemic.
Rachel Blakeman, the Community Research Institute director at Purdue Fort Wayne, said the most recent report is reassuring.
“It’s been rather remarkable about how quickly the unemployment rate has fallen,” Blakeman said. “If we look back at the Great Recession, we saw a slow uptick. Then it peaked and stayed high for a fairly long amount of time and then slowly came back down. That’s not what we’ve seen here. We’ve seen that spike and then we’ve seen that unemployment go down consistently month over month. that’s a very good sign.”
Across Indiana, the unemployment rate lowered from September to October. Despite lower unemployment numbers, the rate is not as low as it was at this point last year. According to Northeast Indiana Works Director of Communications Rick Farrant, Indiana is currently at 4.4% unemployment. The unemployment rate in October 2019 was 3.1%.
Read the full report here.