IBJNews

Indiana unemployment rate shrinks to 7.9 percent

Back to TopCommentsE-mailPrintBookmark and Share

Indiana added 15,400 private-sector jobs last month, helping the state’s unemployment drop fall to its lowest rate since late 2008.

The Indiana Department of Workforce Development said Friday morning that unemployment fell to 7.9 percent in April, down from 8.2 percent the previous month.

The 15,400 jobs added in April marked the fourth-largest one-month increase since 1990, the DWD said.

Indiana led the nation in March-to-April job growth in terms of sheer numbers and ranked third in percentage increase. The state’s 0.6-percent job-growth percentage was six times the national average of 0.1 percent last month. The 15,400 jobs accounted for roughly 12 percent of the nation’s increase.

Indiana’s unemployment rate has not been below 8 percent since November 2008. The U.S. jobless rate in April was 8.1 percent.

“The Hoosier state has not seen economic growth on this level in a generation,” DWD Commissioner Scott B. Sanders said in a prepared statement.

Sanders said Indiana has added 36,500 jobs this year, the most in a four-month period since late 1998.

The state’s unemployment rate is falling as a state leading economic index is rising, pointing to an improving economy.

The Leading Index for Indiana, as measured by Indiana University, is climbing back toward pre-recession levels and is at its highest mark since August 2008.

Still, Timothy Slaper, director of economic analysis at IU’s Business Research Center, said economic signs are far from perfect.

“Overall, the picture looks rosier for Indiana’s economy, but would not warrant saying that the Hoosier economy is poised for breathtaking growth in the coming months,” he said. “The forecast for the remainder of the year continues what has become the mantra of positive, but sluggish, economic growth. The sustained slow recovery will be devoid of strong surges in personal income or payroll employment."

Statewide non-farm employment in April totaled 2.9 million on a seasonally adjusted basis. A total of 246,258 Hoosiers sought unemployment benefits in April, down from 274,580 in March.

Sectors showing employment gains in April included manufacturing (6,200 jobs), professional and business services (3,900), leisure and hospitality (1,900) and construction (1,100).

In the Indianapolis metropolitan area, the non-seasonally adjusted jobless rate was 7.3 percent in April, down from 8 percent in April 2011.

Comparisons of metro areas are more accurately made using the same months in prior yeas because the government does not adjust the figures for factory furloughs and other seasonal fluctuations.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

ADVERTISEMENT