Although the number of Hoosiers working in the private sector dropped by 800 individuals, Indiana’s unemployment rate declined by 0.1 percent to 5.8 percent in March.
According to the Department of Workforce Development, the unemployment rate in the Hoosier State is now down by 2.4 percentage points over the past two years, and the labor force has grown by roughly 72,000 individuals
While Indiana’s labor force participation rate declined by 0.2 percent to 63.6 percent in March, it continued to be nearly a full percent higher than the national average, and has exceeded the national rate for 12 months in a row.
A 5,200 job decrease in the Professional & Business Services sector was partially offset by an increase of 1,900 jobs in the Trade, Transportation & Utilities sector, as well as a 1,300 job bump in the Manufacturing sector. Private sector employment in the Hoosier State has grown by 95,000 over the past two years, and since July 2009, the low point of employment, 264,700 private sector jobs have been added in total.
Sectors showing gains in March include: Trade, Transportation & Utilities (1,900),Manufacturing (1,300), and Leisure and Hospitality (600). The Professional and Business Services (-5,200), Financial Activities (-500), and Construction (-200) sectors declined in March. Total nonfarm employment decreased in March (-1,200).