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State adds jobs; unemployment rate stays at 8.4 percent

 IBJ Staff
August 19, 2013
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Indiana added 5,900 private-sector jobs in July, but the unemployment rate remained unchanged, at 8.4 percent, the Indiana Department of Workforce Development reported Monday morning.

It was the fourth straight month of job increases in the state and the 40th in the past 43 months.

Significant job growth came in the trade, transportation and utilities sector, which added 10,800 jobs. It was the biggest one-month rise in the sector since 1990.

Professional and business services added another 4,100 jobs.

However, construction jobs fell by 3,400 and manufacturing dropped by 2,000.

July's seasonally adjusted employment total in the state fell slightly over June, to 2,924,709 while the number of unemployed dropped by more than 11,000, to 266,109.

The Indianapolis-Carmel metropolitan area saw unemployment fall to 7.5 percent on a non-seasonal-adjusted basis, down from 7.9 percent in June and from 7.9 percent in July 2012. Metro area figures are more reliable on a year-over-year basis due to seasonal fluctuations.

Indiana’s unemployment rate in July was lower than the rates in Illinois (9.2 percent), Michigan (8.8 percent) and Kentucky (8.5 percent), but higher than the rates in Ohio (7.2 percent) and the nation (7.4 percent).
 

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  1. You are correct that Obamacare requires health insurance policies to include richer benefits and protects patients who get sick. That's what I was getting at when I wrote above, "That’s because Obamacare required insurers to take all customers, regardless of their health status, and also established a floor on how skimpy the benefits paid for by health plans could be." I think it's vital to know exactly how much the essential health benefits are costing over previous policies. Unless we know the cost of the law, we can't do a cost-benefit analysis. Taxes were raised in order to offset a 31% rise in health insurance premiums, an increase that paid for richer benefits. Are those richer benefits worth that much or not? That's the question we need to answer. This study at least gets us started on doing so.

  2. *5 employees per floor. Either way its ridiculous.

  3. Jim, thanks for always ready my stuff and providing thoughtful comments. I am sure that someone more familiar with research design and methods could take issue with Kowalski's study. I thought it was of considerable value, however, because so far we have been crediting Obamacare for all the gains in coverage and all price increases, neither of which is entirely fair. This is at least a rigorous attempt to sort things out. Maybe a quixotic attempt, but it's one of the first ones I've seen try to do it in a sophisticated way.

  4. In addition to rewriting history, the paper (or at least your summary of it) ignores that Obamacare policies now must provide "essential health benefits". Maybe Mr Wall has always been insured in a group plan but even group plans had holes you could drive a truck through, like the Colts defensive line last night. Individual plans were even worse. So, when you come up with a study that factors that in, let me know, otherwise the numbers are garbage.

  5. You guys are absolutely right: Cummins should build a massive 80-story high rise, and give each employee 5 floors. Or, I suppose they could always rent out the top floors if they wanted, since downtown office space is bursting at the seams (http://www.ibj.com/article?articleId=49481).

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