Indiana’s unemployment rate remains unchanged at 4.1 percent for July, and the national rate is 5.4 percent.
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.
Indiana’s labor force had a net decrease of 1,740 over the previous month. This was a result of a decrease of 630 unemployed residents and a decrease of 1,110 employed residents.
Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.35 million, and the state’s 63.2 percent labor force participation rate remains above the national rate of 61.7 percent.
Private sector employment has increased by 96,600 over the year and increased by 17,100 over the previous month. The monthly increase is primarily due to gains in the Manufacturing (4,800), the Trade, Transportation and Utilities (4,500) and the Private Educational and Health Services (2,800) sectors. Gains were offset by a loss in the Financial Activities (-1,600) sector. Total private employment stands at 2,650,500, which is 90,000 below the December 2019 peak.