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Unemployment rate plunges to 3.3% in Indiana

Unemployment rate plunges to 3.3% in Indiana

Unemployment rate plunges to 3.3% in Indiana

A sign posted at a local restaurant warns customers of staffing shortages.

Indiana's unemployment rate fell to 3.3% in October, down from 3.5% revised down from 4% in September and under what many economists consider to be full employment.

The national jobless rate was 4.6% in October, down from 4.8% in September.

Indiana's labor force — the total number of people working and actively seeking work as extrapolated from a phone survey — fell by 9,183 in October, according to the Indiana Department of Workforce Development. A total of 7,030 fewer Hoosiers were considered unemployed while actively seeking work last month, and 2,153 fewer were employed.

There were 3.33 million Hoosiers — or about 62.8% — participating in the labor force in October, as compared to 61.6% of people nationwide, according to the DWD. There are 2.67 million Hoosiers now working in the private sector, or about 70,000 below the peak in December of 2019.

Private-sector employment in Indiana has risen by 66,000 this year and rose by 14,600 in October. Last month, the Hoosier state gained 5,800 jobs in manufacturing and 4,100 in trade, transportation and utilities. It lost 1,000 in private education and health services and 200 in all other, which includes mining, logging and information.  

Unemployment fell from 6.2% in September to 6% in October in neighboring Illinois, according to the Illinois Department of Employment Security.

Illinois gained 40,900 jobs in October. The state added 17,700 jobs in professional and business services, 8,400 in leisure and hospitality and 7,700 in transportation and utilities. It lost 1,500 jobs in information and 500 in educational and health services.

In October, Indiana tied with North Dakota for the 12th lowest unemployment rate nationally. It had the fourth-highest unemployment rate in the 12 U.S. Census Bureau-designated Midwest states, trailing Nebraska, South Dakota and Wisconsin. Illinois ranks second-last in the Midwest ahead of only Michigan and ranks 40th nationally, according to the Bureau of Labor Statistics.


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Business Reporter

Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.

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