Friday, 20 October, 2017

IN unemployment rate remains steady at 4 percent

Nfp031017b Indiana Unemployment Rate Holds Steady, More Are Working
Saul Franklin | 14 March, 2017, 00:42

Indiana's unemployment rate is 4 percent, unchanged from December, maintaining the state's lowest rate in more than 15 years.

Unemployment rates for other states were 2.7 percent in New Hampshire, 3.1 percent in Vermont, 3.2 percent in MA, 4.7 percent in Rhode Island, and 4.5 percent in CT. Shelby County had the state's lowest unemployment rate at 5 percent, while Wilcox County had the highest jobless rate at 17.1 percent.

IN gained 6,100 more construction jobs during the unusually warm weather, but lost more than 9,800 jobs in the sectors of trade, transportation and utilities, leisure and hospitality, and professional and business services.

The state's rate was 6.7 percent in January, compared to 6.6 percent in December and 6.5 percent in January 2016. Out of a regional labor force of 596,958, there were 31,059 unemployed residents.

"I'll take a 2.9 percent growth rate any day", said Tom Binnings, a senior partner with Summit Economics LLC, a local economic research and consulting firm. The national unemployment rate declined from 4.9 in January 2016 to 4.8 percent in January 2017.

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Indiana's Labor Force increased by 7,162 over the previous month with a 6,344 increase in employment and a 818 increase in unemployment.

Nebraska nonfarm employment also stayed above 1 million last month, the report said.

The revised statistics replace estimates generated from monthly surveys of a small group of employers with data from unemployment insurance reports most employers are required to file quarterly.

Sectors experiencing the largest gains include construction, which added 6,100 jobs, and financial activities, which added 1,300. Jobs in professional and business services increased 2,700. Growth in nondurable goods offset the losses in durable goods, due in part to reported hiring in food manufacturing.

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