The unemployment rate of the State of Indiana in February stands at 3.5%, according to the Indiana Department of Workforce Development. By comparison, the national unemployment rate for February stands at 3.9%.
In addition, Indiana’s labor force participation rate stands at 62.8% for February, remaining above the national rate of 62.5%. This rate is the percentage of Hoosiers 16 and older that are either working or actively looking for work. Those not in the labor force include, primarily, students, retirees and other non-working populations, such as individuals unable to work due to a disability or illness, or adults responsible for their family’s childcare needs.
Indiana’s total labor force stands at 3,389,372 – a decrease of 8,675 from the previous month.
“Indiana’s overall economic footing and outlook remain solid with near historically low unemployment,” said DWD Commissioner Richard Paulk. “Peak private sector employment – 2,845,200 jobs – is driven by robust labor force participation in the key 25-54 demographic.”
Private sector employment in Indiana increased by 2,800 jobs over the last month, resulting in a gain of 32,200 jobs from this time last year. Indiana’s February private employment stands at 2,845,200.
Industries that experienced job increases in February included:
- Private Educational and Health Services (+1,300);
- Manufacturing (+1,300);
- Leisure and Hospitality (+400);
- Professional and Business Services (+300); and
- Construction (+100).
As of March 18, 2024, there were 101,325 open job postings throughout the state. As of the week ending on March 2, 2024, Indiana had 25,154 continued unemployment insurance claims filed.
