The state’s unemployment rate continued to fall in March, dropping to less than 6 percent for the first time since July 2008.
The state’s rate of 5.9 percent is better than the national rate and those in surrounding states. The rate has fallen from 6.1 percent in February and from 7.9 percent one year ago.
“Our rate has dropped by 2 percentage points in one year, which is the third largest decline in the nation,” said Scott Sanders, commissioner of the Indiana Department of Workforce Development. “The Hoosier labor force has grown by more than 25,000 in the first quarter of 2014 alone, which is also remarkable.”
Indiana added 3,200 private sector jobs in March and the state ranks eighth in the nation in total private-sector job growth since July, 2009, the low point of employment in the state. During that time, Indiana has grown 215,500 private sector jobs, led in part by strong growth in the manufacturing sector.
State officials also said claims for state unemployment insurance in March were nearly 10,000 below March 2013 levels and are at their lowest since 2007. Initial claims for unemployment insurance are at their lowest levels since 2000.