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Indiana's jobless rate holds steady at 9.7 percent

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Indiana’s unemployment rate in January remained unchanged from the seasonally adjusted figure of 9.7 percent the state posted the previous month, the Indiana Department of Workforce Development said Wednesday morning.

While still higher than the January 2009 rate of 8.8 percent, state officials are content with what appears to be an easing of significant job losses.

“Similar to the rest of the nation, Indiana isn’t seeing much change right now,” DWD Commissioner Teresa Voors said. “Indiana’s unemployment rate appears to be holding relatively stable based on the slowing of job losses.”

The number of unemployed Hoosiers increased to 327,198 in January from a revised 298,380 in December. The state’s labor force, however, increased by nearly 21,000 in January, to 3.1 million, DWD said.

Indiana still has the lowest unemployment rate among its neighboring states. Michigan’s rate is the highest at 14.3 percent, followed by Illinois at 11.3 percent, Ohio at 10.8 percent and Kentucky at 10.7 percent.
 
Statewide, the manufacturing sector posted the largest employment gains. Conversely, private education and health services, service providers and leisure and hospitality reported losses.

The non-seasonally adjusted jobless rate in the Indianapolis metro area was 9.3 percent in January, up from a revised 8.4 percent in December.

Indiana is set to release February unemployment figures March 26.
 

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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

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